State of Oregon Archives: on Social Security

Jo Rae Perkins: System broken for decades; stop borrowing from Trust Fund

A: The system has been broken for decades, Congress continues to "kick the can down the road." Congress must stop borrowing from the Social Security Trust Fund. Currently, the biggest challenge is the amount of the future anticipated payouts. Social Security should provide about 30% of retirement income. We need to teach the importance of saving money, how to become debt free, learn to pay cash, save for retirement. Simultaneously, Congress must reduce the size of the federal bureaucracy. This will free up our tax money and provide more for us to have as savings. In summary, there is not a simple answer to this problem. The people will need to decide if they want to pay a higher percentage of their income into Social Security, raise the full retirement age, & eliminate early retirement, or let the system go away. If nothing is done, the program is on tract to be bankrupt by 2034.

Paul Romero: Bearish investment of Trust funds to bolster our markets

A:

1. Social Security funds MUST be returned to a protected Trust where it originally started and not be available for Congress to leave IOU's they don't intend on repaying.
2. The lack of a balanced budget and movement of Social Security funds into the General fund has created an environment where Congress has abused funds for a variety of pork ear marks outside of the Constitution and Federal boundaries. This needs [to be] reversed.
3. Better investment, Bearish investment, is where these funds should be placed which will bolster our markets and grow the fund.
4. Continue the Social Security program but under its own management with external monthly inspections by the Treasury, CBO, Legislative and Executive Branches.

Jo Rae Perkins: Let younger people use individual retirement account

Bud Pierce: Require automatic enrollment with payroll deductions

William (Bud) Pierce: Legislation to require automatic enrollment with a payroll deduction mechanism, while allowing employees to opt out, should be considered to improve individual savings for retirement. Improving job quality (pay), while lowering the cost of living (Oregon is the nations second least affordable state) will do much to help people save for retirement.

Kate Brown: Oregonians deserve the opportunity to work for a reasonable wage and plan for their future so they can retire with greater peace of mind. The first step in ensuring all workers have retirement security is creating the new state retirement savings program. We should be moving toward more opportunities to save for retirement--not take options away. I will continue to increase awareness of retirement security issues and support legislation to do so.

Kate Brown: More options & opportunities to save for retirement

Kate Brown: Today, the average savings for Oregonians approaching retirement age is $12,000. Depending where you live, that's not even enough to cover rent for a single year. Oregonians deserve the opportunity to work for a reasonable wage & plan for their future so they can retire with greater peace of mind. The first step in ensuring all workers have retirement security is creating the new state retirement savings program. We should be moving toward more opportunities to save for retirement--not take options away. I will continue to increase awareness of retirement security issues and support legislation to do so.

William (Bud) Pierce: Legislation to require automatic enrollment with a payroll deduction mechanism, while allowing employees to opt out, should be considered to improve individual savings for retirement.

Kevin Stine: Opposes privatizing Social Security

A: Oppose.

Jeff Merkley: Fight efforts to privatize; honor promises to seniors

Monica Wehby: Put entitlements on a path to being financially secure

Jim Huffman: Option of putting payroll taxes in a private account

Huffman said the ad was full of lies and half-truths. He said he supported the bank bailout because it was the best of a batch of bad policies the federal government was considering at the start of the financial crisis. He said he doesn't support privatizing Social Security, but believes people should be given the option of putting payroll taxes in a private account.

Gordon Harold Smith: People should prepare for retirement in addition to Soc.Sec.

Smith said that as senator he has done more to help encourage 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. “In war and the Merkley campaign, the truth is the first casualty,” he said.

Jeff Merkley: Privatization would melt away retirement in stock crash

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