Bruce Guthrie on Social Security

Diversify Social Security investments

First, we must keep our promises to our senior citizens

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.

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

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.