Santorum: Tie Social Security to prices

WASHINGTON, June 12 (UPI) -- Republican U.S. presidential hopeful Rick Santorum said Sunday he would like to see Social Security increases tied to price inflation rather than wages.

In an appearance on NBC's "Meet the Press," Santorum, a former U.S. Senator from Pennsylvania, said the current system that ties Social Security benefits to increases in wage fluctuations doesn't make sense for senior citizens who now face higher costs at a time when wages have stagnated.

"If we do that, you solve anywhere from half to three-quarters of the short in Social Security over time," Santorum predicted, adding it would provide more stability for the system over the long term.

Santorum told NBC being out in front on the reform of entitlement programs during the Bush administration probably cost him his Senate seat, but "one of the things I learned from that race is that losing isn't the worst thing that can happen to you."