So, here is the fullest explanation that young Kean has offered on Social Security to date, a
rather long-winded yet empty response full of campaign soundbites, a response that manages to sound thoughtful but that lacks any meaningful policy prescriptions. (Here is the response to a question on Social Security from the Hall Institute of Public Policy in New Jersey.)
If I’m reading this correctly, Kean Jr. is opposed to privatization, but for private accounts and does not say in this piece how he manages to gibe this inconsistency. Is he for creating a separate set of accounts that would be managed like a 401k and leaving traditional Social Security as is? He doesn’t address this, preferring instead to go on the attack.
His lack of specificity on this is all the more puzzling, given the Hall’s very specific, three-part question:
A. Do you believe that individuals should be allowed to direct part or all of the Social Security tax to private accounts? What would be the effect of such a proposal on lower income people, the disabled, and survivors’ benefits?
B. How would the nation deal with the transition costs to private accounts?
C. If the Social Security trust fund faces — in the long-term future — a shortfall between revenues and expenditures:
1. What should be the age for full benefits?
2. Should the Social Security tax be raised and to what levels?
3. Should the current array of benefits be cut for future retirees?
Menendez, also turns to the political cudgel, but his response ultimately is pretty
straightforward. He opposes privatization and does not believe the system is in crisis:
We must take privatization completely off the table. Once that happens, I believe in working towards a bipartisan solution to strengthen Social Security over the long haul. This must be accomplished in a way that does not increase the deficit, hurt the middle class or slash guaranteed benefits.
South Brunswick Post, The Cranbury Press
The Blog of South Brunswick