Obama's Stance on Social Security
Insecure Retirement Savings: Retirement savings are near a historic low and 75 million working Americans lack employer-based retirement plans. Too many companies have dumped their pension obligations, leaving workers in the cold.
Income Security: With skyrocketing health care, energy and housing costs, and the risk of being defrauded by insurance companies, too many seniors do not have the resources to live comfortably.
Protect Social Security
Obama is committed to ensuring Social Security is solvent and viable for the American people, now and in the future. Obama will be honest with the American people about the long-term solvency of Social Security and the ways we can address the shortfall. Obama will protect Social Security benefits for current and future beneficiaries alike. And he does not believe it is necessary or fair to hardworking seniors to raise the retirement age. Obama is strongly opposed to privatizing Social Security.
Obama believes that the first place to look for ways to strengthen Social Security is the payroll tax system. Currently, the Social Security payroll tax applies to only the first $102,000 a worker makes. Obama supports increasing the maximum amount of earnings covered by Social Security and he will work with Congress and the American people to choose a payroll tax reform package that will keep Social Security solvent for at least the next half century.
Protect and Honor Seniors
Ensure Heating Assistance: Obama will increase funding for the Low Income Home Energy Assistance Program (LIHEAP) which helps low-income citizens — many of them seniors — pay their winter heating and summer cooling bills.
Support Senior Volunteer Efforts: Retired Americans have a wide range of skills and knowledge to contribute to local and national public service efforts. Obama will engage more interested seniors into public service opportunities by expanding and improving programs like Senior Corps to connect seniors with quality volunteer opportunities.[1]
Senate Record:
- Voted No Bill S.Amdt.489 on S.Con.Res.21 ; vote number 2007-089 on Mar 22, 2007 [2]
John McCain on Social Security
John McCain believes government spending is out of control. A Democrat elected President will join hands with a tax-and-spend Democratic Congress and subject Americans to enormous tax increases. Even now, the tax code is too complex and too burdensome. Social Security, Medicare and Medicaid - the government's promises to seniors and those in need - must be modernized. Too many American workers are unprepared by non-performing schools and shackled by outdated government employment assistance programs. America needs experienced leadership to guide the U.S. economy to greater prosperity, control government spending, keep taxes low, save Social Security and protect the American worker. Americans want a leader willing to offer straight talk and make the hard calls necessary to ensure a brighter future for our children and grandchildren. The long-term strength of our economy and financial stability of American households are what's at stake in this election.
Please view John McCain's stance on Social Security
References:
[1] BarackObama.com; http://www.barackobama.com/issues/socialsecurity/
[2] OnTheIssues.org; http://www.ontheissues.org/2008/Barack_Obama_Social_Security.htm
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