As an investment manager, Jim has heard too many heartbreaking stories of people losing their retirement savings on risky Wall Street bets in the 2008 downturn. The risk of those approaching retirement age and without the opportunity to work long enough to replenish heavy losses in their retirement savings is reason enough to never turn Social Security into a privatized "everyone on their own" scheme.
Jim will protect Georgia's seniors today and future generations by never voting to privatize Social Security or turn Medicare into a voucher program. In the U.S. Senate, Jim will never vote to raise the retirement age or cut benefits earned through years of work.
A: We have a debt that's larger than our economy. It's the No. 1 threat to our national security. That's bad enough, $17 trillion. But we have another $86 to $100 trillion dollars coming at us in future federal unfunded liabilities related to Social Security, Medicare and pension and benefits for federal employees. Perdue's solution is honoring obligations to anyone already receiving Social Security benefits, but changing the benefits for anyone coming into the workforce: "Their deal is going to have to be different". Perdue would make the same changes to Medicare.
A: Congress needs to confront the issue of mandatory spending programs, including Social Security and Medicare, which take up approximately 60% of the budget. The trustees of the Medicare trust project that the hospital insurance portion of Medicare could be depleted by 2026; and Social Security will be forced to cut benefits by 23% in 2033 if nothing is done. We must undertake bipartisan entitlement reform to preserve Medicare and Social Security for those currently in or near retirement, take action to strengthen these programs for the future.
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