August 30, 2010

Does the GOP Support Privatizing Social Security?

A recent headline at The Huffington Post tells us that "GOP Candidates Endorse Draconian Proposal To Cut Social Security," referring to Congressman Paul Ryan's "Roadmap for America's Future" which includes plans to privatize America's expensive government pension scheme.

But if we click through to read the article in question, it turns out there's just four Republicans currently running for Congress who've embraced the notion that Social Security, as it is, is unaffordable and that allowing a healthy bit of a free market competition in the area may be the best way out. That's four out of hundreds of Republicans running for political office throughout the country, with not a single high ranking party member having formally endorsed the plan.

It's not too surprising. While many lawmakers on the Republican side are right to stress that the Federal Government's ongoing spending spree is unsustainable and bound to drown future generations in debt, few have dared propose radical measures to cut spending, particularly when it comes to the entitlements many Americans have come to take for granted. No matter the fearmongering on the left, it doesn't seem likely that Republicans will actually go ahead and privatize Social Security if they have the chance. Ryan, so far, has been quite alone in his campaign for limited government.

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