I believe Social Security must be protected for all Americans, especially those who are retired or near retirement. Social Security, however, does face significant financial challenges in the coming years. Without Congressional action, future retirees will see a reduction in benefits in 2041. Successfully fixing Social Security means that Americans who retire in 2035 will not have to use a system that was built for the world of 1935, but a system that has been modernized to meet the realities of the 21st Century.
I support voluntary personal accounts for younger workers that would allow them to build a nest egg for retirement that they would own and control, and could pass on to their families. This will permanently strengthen Social Security, without changing benefits for those now in or near retirement, and without raising payroll taxes on workers. Inheritance rights in personal accounts would especially help widows who depend on Social Security and eliminate the need for cumbersome regulations that too often deny individuals from receiving their benefits in a timely fashion.
While Congress faces some difficult choices in order to improve the program's long term financial outlook, I know this mission can be accomplished without removing this important safety net or "cutting" current retirees' monthly checks. I am committed to ensuring the long term solvency of both Medicare and Social Security, so all Americans keep their promised hard earned benefits.