It is not totally backed by the good faith and credit of the tax payers, since it is being whittled away by Congress. Many of the Republicans actually support means testing it. So the government will be getting into seniors personal business and finding out what they have and whether to allow them to collect anything.
I would have loved to asked everyone on stage if they support means-testing those who would collect Social Security.
And I don't believe Romney is right about how many depend on Social Security right now to live. Not very many are going to be able to live on Social Security alone. Maybe some in the less expensive states, but the pay out is so low, it is only a supplement to your other savings. Contrast this to the pensions given out for government jobs. I never hear government pensions will be means tested or that the government retiree has to wait until they are 66.
Working for a government pay should not put a person in a different world than a personworking for a private company pay. Getting rid of all government employee unions would be the first thing to do to bring/make the worlds on the same basis.