Republican presidential candidate Herman Cain’s praise for Chile’s private pensions system is getting more critical coverage in the U.S. media, with an article by the Associated Press, “Fact Check: Closer look at Cain’s retirement model” http://news.yahoo.com/fact-check-closer-look-cains-retirement-model-172348908.html appearing in several major newspapers.
Business Week says that Cain’s Chilean social security model risks miring the United States deeper in debt and notes that Argentina attempted a similar program in 1994 in which workers paid pension contributions into private accounts, causing the government to lose $37 billion in revenues. The Argentine government later nationalized the system in 2008. http://www.businessweek.com/news/2011-10-17/cain-s-social-security-model-risks-miring-u-s-in-deeper-debt.html
Notes on the Americas 