We must own up to the fact that our country has an entitlement crisis. Nearly 51 million Americans depend on Social Security for over $650 billion of annual benefits, yet projections show that this program will be insolvent by 2041. We must preserve the viability of Social Security by protecting the Social Security Trust Fund. We need to raise the retirement age for Social Security to reflect the fact that people are healthier today and living longer. Of utmost priority is preserving the viability of this program for people who are currently receiving benefits or who are near to receiving benefits. America has made a promise to our senior citizens and we need to keep it. For younger people, we should offer options for a portion of their payroll taxes to be put into personal retirement accounts.
America has a Medicare crisis too. Like Social Security, we need to uphold the promises we have made to our current seniors and those about to become seniors but make changes for our younger generations so that they will have adequate health care when they retire.