Ok so first off he says he wants to enable young people to get out of the system.... ok..... need a little more of an explanation. Yes I understand it was a debate but still you just cant say that and just leave it hanging especially when social security is an issue most young americans want to be fixed.
Here is the basic summary of his idea. I can go into a bit more detail if you have any questions because I've read a good amount of what he's written about the topic.
Nuts said:
Then he goes on about how the cost of living is going up and how the worth of the dollar is going down because of goverment spending..... um so that would be an incorrect statement -- he is blameing inflation. "An economic condition whereby prices for consumer goods rise, eroding purchasing power"
The government funds the spending of money they don't have (deficit spending) by printing money in the Federal Reserve System. This increases the amount of money in circulation. More money in circulation causes inflation. Inflation causes the worth of the dollar to go down. Thus, government spending is causing inflation. Thus, government spending is driving down the worth of the dollar down.
Nuts said:
Then he says that if we were to cut spending that would some how correct social security.... Yea Im sure.
If we cut spending it means we have more money to spend. If we have more money to spend it can be used elsewhere, such as Social Security. That means, by cutting spending we can fund the Social Security benefits already promised.
Nuts said:
The goverment shouldnt be able to even touch social security. It should be left for those who retire plain and simple.
I'm not sure if you're saying the government should completely abolish it or that the government shouldn't touch the Social Security fund. For the first, the response is what happens to the people who have become dependent on it? Ron Paul suggests we should transition out (young workers get out and people who were promised benefits still get them). Or if you state don't touch the funds, the expenditures for Social Security is growing at an unsustainable rate, everything else the same.