Former New Jersey Governor Chris Christie speaks at the third Republican candidate debate for the 2024 U.S. presidential election, hosted by NBC News, at the Adrienne Arsht Performing Arts Center in Miami on November 8, 2023.Photo: Mike Seeger/Reuters
Editor’s note: The Associated Press incorrectly listed the year Social Security will no longer be able to pay out full benefits. The story has been corrected.
Republican presidential candidates actively worked to cut Social Security benefits to preserve retirement income programs. Others believe that stronger economic growth can be achieved, although past pledges along these lines have failed to bear fruit.
Social Security will no longer be able to pay out full benefits starting in 2033 without changes, including benefit cuts and tax increases, according to the trustee’s report.
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Former New Jersey Gov. Chris Christie said he would raise the retirement age for young workers, including his 30-year-old son. Christie also tried to shame billionaire Warren Buffett for collecting Social Security, even though the payments reflected payroll taxes he paid throughout his career.
Former South Carolina Gov. Nikki Haley also plans to raise the retirement age and limit payments to the wealthy.
Businessman Vivek Ramaswamy suggested the program could be saved by deep spending cuts that would shut down federal agencies and possibly lay off most government employees.
South Carolina Sen. Tim Scott said the country would achieve faster growth, despite former President Donald Trump’s promise that it would also boost gross domestic product (GDP) growth. Florida Gov. Ron DeSantis said he knows several Social Security recipients in his home state, which has a reputation for taking care of retirees, and that economic growth will accelerate there, too.
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Former New Jersey Governor Chris Christie speaks at the third Republican candidate debate for the 2024 U.S. presidential election, hosted by NBC News, at the Adrienne Arsht Performing Arts Center in Miami on November 8, 2023.Photo: Mike Seeger/Reuters
