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Jim Martin on Social SecurityDemocratic Senate Challenger |
A: Since being signed into law in 1935 by President Franklin Roosevelt, the Social Security Act has been the primary method by which we ensure our citizens remain financially secure in their retirement years. The importance of adequately funding the Social Security system cannot be overstated. Current estimates are that nearly 40% of Americans over the age of 65 are kept out of poverty by the Social Security system. Moreover, adequate Social Security benefits are a fundamental right for all Americans who have spent their life working and contributing into the system. As such, Social Security benefits should be administered equitably to all recipients, regardless of their year of birth.
A: Social Security benefits are the primary method by which we keep our retired population out of poverty. Because of their critical importance, the Social Security benefits received by individuals must be at a level commensurate with actual cost of living. I support a method of benefit computation that is not based on spending patterns, but rather on the actual cost of necessary goods and services.
A: Presently, and since approximately 1982, Social Security income has exceeded its expenditures--most recently by over $150 billion per year. However, given the anticipated surge in the retirement population that is expected to arise in coming years, expenses will exceed revenues. As a short term solution to this problem, we must ensure that the Social Security trust fund is adequately funded and that surplus revenues are not taken from the fund and used to pay for lawmakers' pet projects. In the long term, we must work to strengthen our overall economy. By increasing the number of Americans working in high paying jobs, our economic health will be improved and Social Security will be completely viable. I am a strong supporter of the Social Security system and firmly believe that privatization of the system is the wrong answer--both for the solvency of the system, as well as that of its intended beneficiaries.