Candidates committed to Social Security, but short on specifics

October 18, 9:45 AMBusiness ExaminerDarrell Proctor

Previous Next

Comment Print Email RSS Subscribe

Subscribe

Get alerts when there is a new article from the Business Examiner. Read Examiner.com's terms of use.

Email Address   Include other special offers from Examiner.com Terms of Use

 

Most Americans agree that Social Security needs to be fixed. Current math from government experts says Social Security will pay out more than it collects starting in 2017, and the money will be gone in 2041.

But even as the economy has emerged as the top issue in the presidential race, Social Security has not often been part of the discussion.

What are the candidates' plans for the government program? This Associated Press article notes both John McCain and Barack Obama have touched on Social Security during the campaign, but they've been short on providing specifics.

It's notable that Social Security benefits will increase next year, though not enough to offset losses many retirees have sustained in the stock market meltdown.

As finance experts have been saying for years - if you're counting on Social Security to fund your retirement, good luck - and you'll likely be out of luck.