User Clip: Ed on Social Security

MY SON AND DAUGHTER ARE HERE. IT'S NOT GOING TO BE THERE FOR THEM. IF YOU ARE 47 OR YOUNGER, YOUR RETIREMENT POINT IS 70 CENTS ON THE DOLLAR BECAUSE OF THE INSOLVENCY THAT IS LOOMING. WE NEED TO SAVE SOCIAL SECURITY AND MEDICARE. SENATOR WARNER VOTED TO RAID MEDICARE OF OVER $700 BILLION AND INTO A NEW ENTITLEMENT PROGRAM CALLED OBAMACARE. WE NEED TO TAKE A SERIOUS LOOK AT WHAT WE NEED TO REFORM THESE PROGRAMS SO THEY WILL BE SAFE AND THAT ENTAILS A NUMBER OF THINGS THAT WILL GET BIPARTISAN SUPPORT. AND LOOKING AT THE MEASURE OF INFLATION IS IMPORTANT. LOOKING AT RETIREMENT AGES, WE ARE IN THE PROCESS OF INCREASING THE RETIREMENT AGE TO 67. BUT WE NEED TO LOOK AT OTHER OPTIONS IN TERMS OF REFORMS SO OUR CHILDREN AND THEIR CHILDREN WILL HAVE THE SAME BENEFIT OF A SECURE SOCIAL SAFETY NET IN THEIR RETIREMENT THAT MY PARENTS HAVE HAD AND I WILL HAVE AT MY AGE. BUT NOT MANY PEOPLE YOUNGER THAN ME WILL BE AT RSK FOR 70 CENTS ON THE DOLLAR. close