Sanford: Eliminate Social Security to cut federal spending

Posted May 14, 2009, 2:53 PM PT by Jed Lewison • First broadcast: May 14, 2009

Chris Matthews challenges South Carolina Governor Mark Sanford to say how he’d cut federal spending, and after two minutes of stammering without an answer, Sanford finally says that he would “reform” Social Security, which he says means eliminating the current system and replacing it with individual savings accounts.

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Sanford’s position might help him win the 2012 GOP Presidential nomination, but it probably kills any chance he has of winning the election.