David Walker on Social Security
Restructure retiree pensions to be equitable & sustainable
Retirement Obligations: Connecticut has some of the highest unfunded retirement commitments in the nation.
Irresponsible and inadequately funded retirement promises have long been the rule in Connecticut. We need to restructure existing state pension and retiree health obligations in an equitable and sustainable manner in order to save the systems.
Source: 2014 CT Lt. Gubernatorial campaign website, WalkerForCT.com
, Jul 2, 2014
Exploding costs of entitlements consumes entire 2025 budget
Rubio noted that when Social Security was enacted there were 16 workers for every retiree, a ratio that had plummeted to 3 to 1 in 2011 and was headed toward 2 to 1. Others had also been warning about impending doom. Special commissions had been
formed and disbanded. The former US comptroller general David M. Walker had been barnstorming across the country proclaiming that the exploding cost of Social Security, Medicare, and Medicaid would consume the entire federal budget as soon as 2025.
Source: The Rise of Marco Rubio, by Manuel Rogi-Franzia, p. 7-8
, Jun 19, 2012
Supplemental retirement accounts ok; private accounts not
Q: What is your opinion on privatizing Social Security"?
A: No, I oppose privatization.
Reform the base defined benefit system instead. But that we should consider supplemental--not substitute--individual accounts.
Source: Phone interview on presidential race with OnTheIssues.org
, Apr 2, 2012
Page last updated: Jun 16, 2018