And what about the debate last night-did we learn anything scintillating or new? Not particularly. Romney, Paul and Gingrich used the opportunity to attack newly anointed front-runner Santorum-he's usurped Gingrich as Romney's chief rival, and polls show Santorum leading the race nationally and in several states-about spending in his home state and support for Congressional earmarks. Time's Swampland blog probably has the best summary of how this portion went:
Here is a typical exchange: "Attached to a bill? Attached to a bill?" asks Romney. "As part of the bill. Congressman Paul..." says Santorum. "And the president can't veto it?" asks Romney. "He can veto the bill," says Santorum. "The whole bill, but he can't veto the earmark?" asks Romney. "Well, we tried to do that, by the way. I supported a line-item veto," says Santorum. "That's what I support. That's what I support," says Romney. "Hold on. Hold on," says Santorum. Democracy in action.
Santorum and Romney were the only ones to (briefly) mention Social Security or Medicare; both also said that repealing 'Obamacare' would save the U.S. trillions. According to the New York Times' politics blog, these savings projections are exaggerations:
Mr. Santorum said repealing the health care insurance law that President Obama signed in 2010 would reduce the deficit. His rival Mr. Romney has repeatedly made the same claim in debates and repeatedly been judged incorrect.
Going into the debate yesterday, Romney introduced his "Restore America's Promise" plan, which calls for raising the Social Security eligibility age for younger people; indexing growth in benefits to inflation instead of wages for wealthy retirees; creating a Medicare voucher system; tax cuts for individuals and corporations; and eliminating the inheritance and Alternative Minimum taxes. Romney's announcement came the same day President Obama released his business tax plan, which would cut the corporate tax rate from 35 to 28 percent and eliminate certain tax loopholes.
Thursday Quick Hits:
- Three older actresses-Meryl Streep (62), Viola Davis (46) and Glenn Close (64)-are up for the best actress Oscar. [More Oscars coverage? See our Movies for Grownups page.]
- A Bank of America survey finds most wealthy Americans support raising the Social Security age.
- Financial advisers who specialize in retirement planning may need to hone their listening skills.
- In Canada, most boomers now plan to work past traditional retirement age because they can't afford not to (sound familiar?); only 30 percent think they'll be able to fully retire at 66.
Photo: Jack Kurtz/ZUMAPRESS.com/Corbis