So House Republicans trying to work their way through entitlement reform are hearing from Teabrewers, party activists . . . and the Governor of New Jersey (Weekly Standard):
This afternoon at the American Enterprise Institute, New Jersey governor Chris Christie said he wants House Republicans to “put up or shut up” on entitlement reform and had a message for those candidates he campaigned for in 2010: “If the people who I campaigned for don’t stand up and do the right thing, the next time they’ll see me in their district [it will be] with my arm around their primary opponent,” Christie said. “Because you asked me to put my reputation on the line for you based on a promise that you were going to deal with these hard issues.”
I know several Teabrewers who themselves wouldn’t go that far – at least not yet, anyway.
Christie then approached the “third rail” of American politics . . . and french-kissed it (WS again):
“What’s the truth? The truth that no one’s talking about?” he said. “Here’s the truth that nobody’s talking about: You’re gonna have to raise the retirement age for Social Security.”
“Whoa ho! I just said it, and I’m still standing here,” Christie exclaimed, as the audience laughed. “I did not vaporize.”
“We have to reform Medicare because it costs too much and it is gonna to bankrupt us,” Christie continued. “Once again, lightning did not come through the window and strike me dead.
“And we have to fix Medicaid because it’s not only bankrupting the federal government, it’s bankrupting every state government.
“There you go. If we’re not honest about these things–on the state level about pension benefits and on the federal level about Social Security, Medicare, and Mediciad–we are on the path to ruin.”
“I did not vaporize!” Good one, Guv.
I would add this: if the Republicans win control of the NJ legislature in November, it’s much more likely Christie runs for President. He’s smart enough to know any hint of doing so now will embolden the Democrats who control the legislature (and who are currently cowed into submission by him). They can them claim his crisis talk was all a ruse to win primary votes, and reclaim some of the political capital Christie took from them. With a GOP-controlled legislature, that goes away – and unless Trump or Giuliani manages to catch fire (the former is possible; the latter, inconceivable, IMHO), the field will be wide open for a budget-cutter from the Northeast.
You heard it here first; unless I’m wrong, in which case, you didn’t hear anything.
[...] Cross-posted to RWL [...]
There should not be any big problem raising the retirement age, even ratcheting it up to 70. BUT, i understand from some studies that the SS Fund is solvent until 2037 (at which time we should be in a new world). If this is the case, then why are the teapartiers screaming ‘fire’ today?? Also, given this is a contributory fund, then then the beneficiaries are, yes, entitled to their contributions with interest….
I know this will shock you but I share the admiration for Christie for various reasons but the foremost of which is his desire to tell it like it is.
and unlike many of his Republican counterparts, he does not see the need to misrepresent the issues nor promote disinformation about them.
He also strikes me as someone who actually wants to govern rather than hold the pompous notion that he knows what is best and will rule – rather than govern.
But I want to see him go forward in New Jersey to see how much he actually accomplishes before I’m ready to see him take on the entire US.
We still have a big problem with the facts of the deficit in terms of what share of the structural deficit and debt is Social Security and Medicare?
FICA on the average paycheck is in the same ballpark as the Income Tax but FICA is a dedicated revenue stream for SS and Medicare and for 60 years, it generated a surplus for SS and only when Medicare was added did it start to see some pressures.
So right now today – how many people and politicians including Christie can tell us just how much of the 1.5 trillion deficit is due to SS and Medicare? What percentage?
does anyone know?
Bonus Question: If we FIXED SS and Medicare how much of the structural deficit and debt would remain?
[...] Christie dramatically added his voice to those calling for entitlement reform earlier today; his comments brought me back to some earlier [...]