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Paula Overby on Social Security

 

 


We need a safe way to save for retirement

Q: Do you support or oppose privatizing Social Security?

A: Oppose--What we really need is a safe way to save for retirement. Social security was created to address poverty among an aging population and some will say it's a pay as you go system, not a retirement plan. But for millions, it is their only source of retirement income. $5.6 Trillion dollars in retirement funds held in trust by the federal government is not an asset owned by the public, it is a debt held by the public in the form of US treasury notes. The money has already been spent.

Q: What about IRAs?

A: Private plans like IRA's do build asset value but these plans are also vulnerable to market exploitation. I believe we should continue to have public and private

Source: OnTheIssues interview of 2018 Minnesota Senate candidate , May 13, 2018

Other candidates on Social Security: Paula Overby on other issues:
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Page last updated: Oct 26, 2020