Video Shows Walz Correct: Demmer Wants To Partially Privatize Social Security.

Randy Demmer On Social Security Privatization

Does Republican candidate for Congress Randy Demmer want to partially privatize Social Security as Congressman Tim Walz claimed in a recent debate? During the debate Demmer disputed that notion

Walz tells The UpTake’s Mike McIntee that Demmer made the privatization statement earlier this year while he was courting conservative votes to win the Republican nomination and that statement was captured on video. We asked to see that video.

The Walz campaign provided video of Demmer’s call for social security privatization. In it Demmer says

“And I do believe, when you call privatization of health c..social security .. I got a… it’s kind of more simple as far as I’m concerned. It’s having control of the dollars I’m investing someplace. And yes I would, I would favor the option of me being able to do that. Of you being able to do that. In other words when you’re putting your money into your social security account, I would support you having the option if you so choose to have a say in how those monies are invested and what kind of return you might get and have some choices to where you put it.”

Demmer made it clear that he was not talking about changing social security for older Americans because that would be “pulling the rug out from underneath them.”

Continue reading to see the video and read the full transcript of what Demmer said in a Republican debate.

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Transcript:
Moderator:
How do you feel about the problems facing social security and will you support privatizing social security?

Randy Demmer: I agree that we have to look at this as a multi-faceted problem. Now we have, we do have senior citizens relying a great deal on social security and absolutely Dick is right, we’re not going to pull the rug out from underneath them. That can’t happen, that shouldn’t happen. That was a different time. They expected that. They should be getting that.

Now there’s another middle tier of people that probably (unclear). And I do believe, when you call privatization of health c..social security .. I got a… it’s kind of more simple as far as I’m concerned. It’s having control of the dollars I’m investing someplace. And yes I would, I would favor the option of me being able to do that. Of you being able to do that. In other words when you’re putting your money into your social security account, I would support you having the option if you so choose to have a say in how those monies are invested and what kind of return you might get and have some choices to where you put it. You can take on some risk if you want to. Personal responsibility, individual freedom, personal choice. I think you should have that.

Now in terms of the young people…maybe my daughters…I believe we have to make a decision in this country what do we want social security to be. What do we want it to accomplish. And then we have to look at a funding mechanism to make sure whatever we decide it to be it should be there. But I also think, again individual responsibility, we need to encourage our young people to look at not relying on that and understanding that it is not going to be your retirement account. Unless we decide it is going to be that way, it’s a totally different thing. But I think we have lots of tools available, lots of investment tools available, we have to remember that, that social security might not be there to do what you want it to have. To be what you want it to be when you retire. And so again with choice you can do those…you can invest the way you want to invest and also be thinking about your own investments in your own (unclear) future. Thank you.

Michael McIntee

Michael McIntee is a former network TV news executive with more than 30 years of broadcasting experience. He began his broadcasting career at the University of Minnesota's student radio station. He is an expert producer, writer, video editor who has a fondness for new technology but denies that he is a geek. More about Michael McIntee »

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