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Bruce Guthrie on Social Security

 


Diversify Social Security investments

For years, Social Security has had the luxury of budget surpluses because more people have been paying into the system than collecting from it. But that will change in 2017, when the Social Security Administration will have to begin paying benefits out of savings, rather than current receipts. Had Social Security diversified its investments, rather than relying so heavily on government bonds, we could have expected our savings to grow with the economy. Instead, we're stuck with a bunch of IOU's.
Source: Campaign website, www.bruceguthrie.com, "Issues" Oct 26, 2006

First, we must keep our promises to our senior citizens

Q: What's your plan to save Social Security?

CANTWELL: I want to protect Social Security. What I like about Social Security is that it's a guaranteed benefit. It has progressivity, like for women who make less or live longer. To change that, by making it an investment as private accounts or personal accounts, changes the very nature of Social Security.

McGAVICK: You heard no plan from the incumbent for how to save Social Security. You only heard a list of what the incumbent opposes. I do have a proposal. We must guarantee benefits to those who are nearing retirement, while for younger workers, there should be personal accounts. But, I oppose them being privatized.

GUTHRIE: First, we must keep our promises to our senior citizens. But young people 25 and undershould have personal savings accounts. For the gap between 25 and 50, they can either opt-out and accept a lump-sum payment, or they can continue with the current system.

Source: Washington Senate Debate hosted by KING-5 (X-ref Cantwell) Oct 17, 2006

Personal accounts if under 25; opt-out if under 50

Q: More about your plan to save Social Security?

A: First, we must keep our promises to our senior citizens. We have an obligation to provide them with the benefits that they expect. But the young people I talk to, the guarantee rings hollow with them. Here's what we need to do. For those 25 and under, their contribution should go into a personal savings account that would accrue interest and grow over time. For the gap between 25 and 50, they can either opt-out and accept a lump-sum payment, or they can continue with the current system. The demographics have changed on this issue, and the Democrats and the Republicans have no plan.

Source: Washington Senate Debate hosted by KING-5 & Seattle Times Oct 17, 2006

Other candidates on Social Security: Bruce Guthrie on other issues:
WA Gubernatorial:
Christine Gregoire
WA Senatorial:
Brad Klippert
Maria Cantwell
Mike McGavick
Patty Murray

2004 Presidential:
Pres.George W. Bush
Sen.John Kerry
Ralph Nader

2008 possibilities:

Sen.Hillary Clinton
Sen.John Edwards
Sen.Russ Feingold
Rudy Giuliani
V.P.Al Gore
Sen.Barack Obama
Sen.John McCain


2006 Senate retirements:
Jon Corzine(D,NJ)
Mark Dayton(DFL,MN)
Bill Frist(R,TN)
Jim Jeffords(I,VT)
Paul Sarbanes(D,MD)
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(VT)Sanders v.Tarrant
(WA)Cantwell v.McGavick v.Guthrie
(WI)Kohl v.Vogeler v.Redick
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(WY)Thomas v.Groutage
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