Republican presidential candidate and former Utah Gov. Jon Huntsman said “there will be a shared sacrifice in this country” in terms of Social Security reform.
“We’re going to have to take the underlying assumptions for inflation and we’re going to have to peg them more to real wage growth as opposed to the consumer price index, and I would say phase in to the higher income categories a little differently and I would say there will be a shared sacrifice. There will be a shared sacrifice in this country,” Huntsman said at The Heritage Foundation on Tuesday at a bloggers briefing.
“Maybe those who are at the top one, two, three percent wage earners in the country, maybe they don’t need it. Maybe there can be a shared sacrifice here. Somebody’s going to have to have that conversation.”
Social Security faces $16.1 trillion in unfunded liabilities over the next 75 years.