State of Hawaii Archives: 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 State of Hawaii Politicians: Archives.
  • Click here for definitions & background information on Social Security.
  • Click here for other issues (main summary page).
2012 Presidential contenders on Social Security:
  Democrats:
Pres.Barack Obama(IL)
V.P.Joe Biden(DE)

Republicans:
Gov.Mitt Romney(MA)
Rep.Paul Ryan(WI)
Third Parties:
Green: Dr.Jill Stein(MA)
Libertarian: Gov.Gary Johnson(NM)
Justice: Mayor Rocky Anderson(UT)
Constitution: Rep.Virgil Goode(VA)
Peace+Freedom: Roseanne Barr(HI)
Reform Party: André Barnett(NY)
AmericansElect: Gov.Buddy Roemer(LA)
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Page last updated: Dec 16, 2013