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Newt Gingrich To Unveil Alternative To Social Security In New Hampshire [View All]

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Adenoid_Hynkel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 06:34 AM
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Newt Gingrich To Unveil Alternative To Social Security In New Hampshire
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Source: Huffington Post

MANCHESTER, N.H. -- Republican presidential contender Newt Gingrich is set to introduce a "growth and innovation" plan that would offer younger workers an alternative to Social Security.

The former House speaker, whose political comeback has seen his political fortunes improving in recent weeks, planned to tell students at St. Anselm College Monday that he would allow some members of the U.S. workforce to choose private retirement accounts and end the expectations that Social Security will be a safety net for older workers.

Gingrich's plan would also let the markets determine retirees' income.

"Growth and innovation means securing and strengthening Social Security by empowering Americans with the option to invest in personal savings accounts," Gingrich said in remarks prepared for delivery. "This gives Americans ownership over their retirement and the opportunity to unleash the power of the market to enjoy prosperous retirements beyond their most optimistic expectations, while also wiping out all future liabilities in the Social Security system."

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