Hawaii 2006 Senate Debate: on Social Security

Daniel Akaka: Social Security privatization is a risky investment scheme

I oppose Bush's privatization proposal. It turns a guaranteed benefit into a risky investment scheme. Social Security has served as an important safety net for a long time, and I view the continuation of this program as a top priority. What's happening now with the Bush administration privatizing the bill, privatization will not address Social Security-term fiscal challenges, which is a problem. And social security is something that we really need and need to continue to fund over the years. Source: 2006 HI Senate Debate on PBS Hawaii Aug 31, 2006

Ed Case: Oppose Social Security privatization, lockbox the trust fund

Social Security will become insolvent inside of 10 years, meaning the revenues coming in from Social Security taxes will not be sufficient to cover the expenses going out. We'd be in pretty good shape if we'd only lockboxed the Social Security trust fund and not diverted all of those moneys into our general fund and spent it as part of that budget decline that I referenced earlier in my remarks. I have opposed his specific privatization proposal as I understand it. Source: 2006 HI Senate Debate on PBS Hawaii Aug 31, 2006

The above quotations are from 2006 Hawaii Democratic Primary Senate Debate: Sen. Daniel Akaka vs. Rep. Ed Case, at the University of Hawaii, Honolulu, on PBS Hawaii, Aug. 31, 2006. Click here for definitions & background information on Social Security. Click here for more quotes by Daniel Akaka on Social Security. Click here for more quotes by Ed Case on Social Security.
*2008 Presidential contenders on Social Security:*
*Republicans:* Chmn.John Cox Mayor Rudy Giuliani Gov.Mike Huckabee Rep.Duncan Hunter Sen.John McCain Rep.Ron Paul Gov.Mitt Romney Sen.Fred Thompson	*Democrats:* Sen.Hillary Clinton Sen.John Edwards Sen.Mike Gravel Rep.Dennis Kucinich Sen.Barack Obama	*Third Parties:* Green: Rep.Cynthia McKinney Socialist: Brian Moore Independent: Mayor Mike Bloomberg
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