Jeff Merkley on Social Security

Democratic Jr Senator (OR)

Privatization would melt away retirement in stock crash

Merkley said he’s opposed to Smith’s plan to privatize Social Security, which he said would have been a dangerous move considering how hard retirement funds have been hit by the falling stock market. “It would have melted away the way Wall Street has melted away,” he said.

Smith said he encourages Americans to save more as a way to better prepare for retirement and add to the benefits received under Social Security. He took issue with Merkley for suggesting he wanted to do away with Social Security

Source: 2008 Oregon Senate Debate, in Southern Oregon Mail Tribune , Oct 14, 2008

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