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Dick Cheney on Social Security

Vice President of the United States; Former Republican Representative (WY)


Social Security will go bust without individual investment

Q: How will you protect Social Security?

CHENEY: It’s provided benefits for senior citizens, for my parents. Gov. Bush and I want to make absolutely certain that the first thing we do is guarantee the continuation of those payments. We know when the baby boom generation’s coming. That’s going to drive the system into bankruptcy unless we reform it. The reform we offer is to allow young people to take a portion of the payroll tax, 2%, and invest it in a personal retirement account. First, it gives them a stake in the Social Security system. That becomes their property. They own it. They can pass it on to their kids if they want. Secondly, today, you get about a 2% return; we can generate at least 6%. And by generating a bigger return, we’ll put additional funds into the system that will help us survive that crunch that’s otherwise going to hit in the future. They don’t reform Social Security at all. They add another huge obligation on top of it that future generations will have to pay.

Source: Vice-Presidential debate Oct 5, 2000

Partially privatizing Social Security is acceptable

Source: Republican party platform 2000, “Retirement” Aug 15, 2000

Save Social Security; stop talking & dividing generations

For eight years, Clinton and Gore have talked about Social Security reform, never acting, never once offering a serious plan to save the system. I have every confidence they’ll go right on talking about it. Those days are passing too. There will be no more spreading of fear and panic, no more dividing of generations against one another, no more delaying and excuse making and shirking of our duties to the elderly. George W. Bush and I, with the united Congress, will save Social Security.
Source: Speech accepting nomination for Vice Presidency Aug 2, 2000

End earnings test; allow retirement income under SSI

Source: Thomas Register of Congressional Votes Jan 1, 1988

Raise annual IRAs to $2,500; more cost-of-living increases

Source: Thomas Register of Congressional Votes Jan 1, 1984

Other candidates on Social Security: Dick Cheney on other issues:
George W. Bush
Dick Cheney
John Edwards
John Kerry

Third Party Candidates:
Michael Baradnik
Peter Camejo
David Cobb
Ralph Nader
Michael Peroutka

Democratic Primaries:
Carol Moseley Braun
Wesley Clark
Howard Dean
Dick Gephardt
Bob Graham
Dennis Kucinich
Joe Lieberman
Al Sharpton
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Adv: Avi Green for State Rep Middlesex 26, Somerville & Cambridge Massachusetts