Libertarian U.S. Senate Candidate Buckley Criticizes Opponent's Social Security Solutions
Press Release
Libertarian U.S. Senate Candidate Buckley Criticizes Opponent's Social Security Solutions
In the Sunday, July 6, 2008 edition of The Atlanta Journal- Constitution, U.S. Senate candidates gave their 150 or less words answers to the following question: How Would You Fix Social Security? The answers of the incumbent, Saxby Chambliss, and two of the front-runners for the Democrats, Jim Martin and Vernon Jones, provide perfect examples of what is wrong with our political system.
There are numerous ways to fix Social Security. What has been missing in the fix to Social Security's problems has been political willpower.
Saxby's Chambliss response involved voluntary private accounts, without explaining how they would work. He also said he has not, and he would not, support any proposal that does not give a 100 percent guarantee that all current and future beneficiaries will receive their benefits.
Allen Buckley, the Libertarian Party's candidate for U.S. Senate in Georgia, said: "Anyone can create a solution that will guarantee that all current and future beneficiaries will receive their benefits.' The question is: what would be those guaranteed benefits'? Saxby Chambliss ducked the issue and misled the public in the processa standard's politician's reply."
Other than suggesting that Social Security's surpluses be taken away from Congress, Jim Martin did not provide an answer to the question raised. Vernon Jones gave a typical politician's solution, deferring the "studies" and public/private partnership without any description of the partnership's function.
In contrast, Allen Buckley supplied an actuarially sound solution to Social Security's problems. Buckley's proposed solution recognized the fact the Social Security becomes cash insolvent in 2017, and utilized defined benefit and a defined contribution combination fix for Social Security's problems for younger people.
Buckley said: "I proposed a solution that is actuarially sound, and that would work indefinitely. The answers provided to the AJC's Sunday Q&A section to date show I'm the only candidate who has consistently supplied solutions to problems in his answers. Perhaps doing so is politically incorrect. So be it."
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