Theft: Social Security Retirement Fund

chris christieGov. Chris Christie, R-N.J., was the only one to substantively address the future of Social Security in this week’s Republican debate in South Carolina and he said something that is noteworthy:

“We have seniors out there who are scared to death because this Congress — this one that we have right now, just stole $150 billion from the Social Security retirement fund to give it to the Social Security disability fund. A Republican Congress did that.

And the fact is it was wrong. And they consorted with Barack Obama to steal from Social Security. We need to reform Social Security. Mine is the only plan that saves over $1 trillion and that’s why I’m answering your question.”

In the past, Christie has argued that there are only two options to save Social Security  – cut benefits for the wealthy and raise the retirement age or raise taxes for everyone.

He proposes cutting Social Security benefits for people who earn over $80,000 a year and eliminating benefits  entirely for seniors who are earn over $200,000. He also proposed increasing the retirement age by a month a year to age 68 over a 25-year period. The only other option, says Christie is raising taxes for everyone.

I checked the AARP web site to see if there was any coverage of this issue. There was a puff piece on the very spending bill that Christie is discussing and stories on “Sign Off: Tips to Avoid Holiday Porch Predators” and “Surf Safely: Watch Out for Public Wi-Fi Fraud This Holiday.” Let’s not be too judgmental. If you were earning billions through the sale of Medi-gap health insurance – which is necessary because America lacks a universal health care program – you probably wouldn’t the rock the boat either.

 

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Author: pgb

Attorney at Law, author and blogger.

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