Newly minted GOP presidential candidate Rick Santorum defended his chances for a win in 2012 Sunday on NBC’s “Meet the Press,” despite losing his last political race to now-Sen. Bob Casey (D-Pa.) in 2006.

“One of the things I’ve learned since losing that race is losing isn’t the worst thing that can happen to you,” the former Pennsylvania Senator said. “Not standing up for what you believe in and not fighting for those things is the worst thing,” he said referring to his then controversial positions on entitlement reform.

“I was out there talking about Social Security reform in 2005 and 2006,” he continued. “When George Bush said ‘charge’ after the 2004 election, that we have got to take on Social Security, Jim DeMint and I ran to the floor of the United States Senate and I did town meetings all around Pennsylvania. I turned around, and there was not anybody behind me.”

Santorum also said the Social Security cost of living adjustment must shift from a wage inflation index to a price inflation index. “If we do that, you solve anywhere from half to three-quarters of the shortfall on Social Security over time,” he said.

On Medicare reform, Santorum said he supports House Budget Chairman Paul Ryan’s (R-Wis.) plan, but wants to take it further. “We need a more comprehensive plan where seniors and individuals are involved in controlling costs,” he said. “And you have government now controlling well over 50% of medical care and they’re not doing a very good job of controlling costs.”