Question 3

 

Is Social Security, as it now exists, survivable and would you support raising the cap on earning, raising the retirement age, reducing payments to wealthier Americans and allow younger workers to invest a portion of the Social Security into private accounts? What proposals would you make to ensure it is available for future generations?

Answers: 

SITTON: Our nation must keep our commitment to seniors and people nearing retirement to assure they get the benefits they have planned on.  But no longer can we simply “protect” Social Security as some politicians seek to do; we must make needed reforms to “preserve” it for future generations.  I support reform such as modernizing the retirement age and indexing it to life expectancy.  I also support giving younger workers the opportunity to invest a portion of their money in optional personal accounts.  We need to get the economy thriving once again and reform the tax code so younger workers will have greater incentives to save for their own retirement.   

MCSALLY: Generations of greed in Washington have raided and drained our Social Security trust fund and left it full of useless I.O.Us. That has to stop. We have to keep the promises we’ve made to our seniors and protect the retirement benefits they’ve earned. At the same time, we have take measures to strengthen and sustain it for future generations because it is currently unsustainable. For younger workers, we need to consider approaches such as gradually increasing the retirement age and allowing them to invest a portion of their Social Security payments in ways that will allow them to maximize their returns.  We also need to stop raiding the retirement fund at will for special interests so we can keep our promises and institute the measures needed to strengthen and sustain social security for future generations.

KELLY: We must grow the economy by lower taxes, reducing unnecessary regulations, and developing our abundant supply of energy. We also need to protect the current system by no longer raiding the trust fund for unrelated programs. Going forward we should allow younger workers the choice of placing a portion of their contributions into a personal account - similar to the current Federal Thrift Savings Plan.

BARBER: I am committed to protecting Social Security, and making sure that it is available to future generations.  The 117,750 seniors in Congressional District 8 receiving Social Security deserve and rely on the benefits that they’ve invested in throughout their working years. This trust between generations, which every working person pays into, is one we must honor. 

Social Security is currently solvent into the 2030s.   We can and we will find reasonable ways to make Social Security stable without switching to a risky privatization system. In order to protect social security for future generation, we have to make modest adjustments as have been made in the past.  I am unwilling to gamble seniors’ financial security in the stock market.  I do not support proposals to phase out Social Security or replace it with a privatized system, which offers seniors no assurance of return on the investment they have made and deserve. 

ANTENORI: Congress needs to get its hands off of social security.   The raiding of social security funds by Congress to pay for other spending is a betrayal to our seniors.   This must stop.   In addition, those who manage the investments of the social security trusts must be held accountable for performance.  It is unconscionable that during our robust economic times, the growth in the social security investment was minimal.   That has contributed in part to the challenges we face.    America must honor the promises made to those receiving benefits or about to receive benefits.   For future workers, alterations will be needed to when benefits can commence.  Our young people should be given options and if they choose, be allowed greater control over how their contributions are managed.   One should also not ignore the need to restore our economic health and curtail adding to the deficit.   The more money we spend on interest tied to the national debt, the less there is left over to pay for essential programs.