Gingrich Endorses Social Security Privatization Part of Ryan’s Roadmap

[Joanne98]

Rep. Paul Ryan (R-WI), ranking member of the Budget Committee and incoming chairman if Republicans capture the House in November, has a budget plan called “America’s Roadmap,” which slashes Medicare and Social Security in an ostensible effort to end the budget deficit. While right-wing pundits have been quick to applaud the plan, elected Republicans and those hoping to be elected are much more hesitant to endorse deep cuts to popular social programs. Many have shied away from endorsing the plan.

One such politician was former Speaker of the House Newt Gingrich (R), who dubbed Rep. Ryan “extraordinarily formidable” but had not explicitly endorsed his plan. But yesterday at an event in Iowa that was widely seen as laying the groundwork for a 2012 presidential run, Gingrich explicitly endorsed Ryan’s plans for Social Security, while voicing disapproval for the taxes contained in the roadmap:

Taking questions after his talk, Gingrich told The Tribune that Wisconsin U.S. Rep. Paul Ryan is “one of the smartest conservative thinkers in Congress,” but that he opposes a value-added tax proposed by Ryan as part of a plan to end the U.S. deficit.

Gingrich also said he believes that Ryan’s plan to partly privatize Social Security would “triple the earnings” of future retirees.

http://thinkprogress.org/2010/09/11/gingrich-social-security-privatization/

[Historic NY]

1. In other words take our money give it to Wall Street. its like giving to a Vegas bookie.

[geckosfeet]

2. newt - have you looked at market performance over the last three years?

It has sucked for the last nine years, since the 2k bubble burst, but it has been a sure losing proposition over the last three. And most market economists do not expect it to recover for a long long time.

So newt - tell me, how would privatizing SS 'triple the earnings' of future retirees? I can see how it would triple, nay, quadruple the earnings of Wall St. fund managers and their syndicates. But how would it help retirees?

[HughBeaumont]

3. .

Idiot.

[WhiteTara]

4. doesn't this bastard get a pension for the US government

for being a former House Speaker? Let him give that up along with his great paid for by us health care and then he might have something to say.

[DCKit]

5. If by "triple the earnings" Gingrich means "destitute and living in poverty"...

then I'd have to agree.

Dog, I'm getting really good at Republispeak.