Brad Ellsworth is opposed to Social Security privatization:
"Democrats, Republicans, people that have studied this issue, have met," Shively told Ellsworth. "And our Social Security system is in peril. Then, if not allowing part of Social Security to be privatized ... then what is your solution to save Social Security so it is there for the retirement of the next generation?"
Ellsworth reiterated his opposition to the proposal that would allow workers under age 55 to divert some of their Social Security contributions into a private account. In that plan, younger workers' future benefits would be reduced by the amount they diverted and an additional 3 percent.
"As I've looked into the privatization, I have not seen one thing that guarantees the benefit, that proves that it will make the program last longer," he said. "It looked to me like it's going to cost trillions of dollars to implement, and then really only benefit the Wall Street investment firms.
"I think the first thing you have to do is quit robbing the fund."
Shively said "the robbing started" in the 1960s, when the administration of Democratic President Lyndon Johnson was funding the Vietnam War.
"What is the solution?" Shively pressed. "What do we do? Do we raise taxes? I mean, when they say the only alternative is to continue benefit levels so that they're there, at the level they are now, is to raise taxes. You know, employment taxes. Is that what you favor?"
Ellsworth said he doesn't favor raising taxes. He said Republicans and Democrats in Congress must put an end to "bipartisan bickering" over issues.
"I don't have the answers to all these things," he said. "What the congressman's job to do is find those people, get in there, have those meetings, find the experts, and then, pick out the solutions and implement those, and I think that's what you do when you get there."
