Where Do the Candidates Stand on Social Security?

As Texans begin casting votes for the presidential election, it’s important to separate campaign rhetoric from the serious issues that impact our lives in the most profound ways.

One of these issues—largely ignored in the presidential debates so far—is how, if elected, the candidates plan to keep Social Security financially strong and viable for future generations.

The stakes are high. Absent any action, in less than 20 years, Social Security recipients will face a 25 percent cut in benefits. For many, this translates into a cut of up to $10,000 per year. For those on a fixed income, it can be devastating.

Picasa

Today, one in three older Texans relies on Social Security as their only source of income. For 60 percent of Texans age 65 and older, Social Security makes up 50 percent or more of their income. If it were not for this program, more than four out of every 10 Texans age 65 or older would live below the poverty line.

“It’s not a handout and it’s not an entitlement; it’s something for which we’ve worked all our lives,” AARP volunteer Gene Schneider of Austin tells us. He and his wife are among the lucky ones not totally dependent on Social Security for survival. But he adds, “If it were not available or if it were significantly diminished, we would feel the impact.”

But there’s so much more to Social Security. It impacts the lives of many Texans who are not retired. In fact, about four out of every 10 recipients are not retirees. Among these are widows and widowers, people with disabilities, children, and spouses.

And let’s not forget the considerable economic impact generated by the program. For every $1 of Social Security received in Texas, $2.12 is generated in economic output.

The longer our leaders take to fix Social Security, the harder it will be to find a solution and there’ll be less time for workers to prepare for the future. That’s why AARP is working this year across the country with volunteers and other residents to keep the heat on the candidates and push them to articulate clearly what they would do to protect Social Security. Our red-shirt clad volunteers can be seen at town hall meetings, airports and other places the candidates go.

All plans put forward by candidates are posted to www.2016takeastand.org without AARP taking sides. While AARP positions haven’t changed, we want the focus to be on the candidates. The political reality is there won’t be progress on updating Social Security without presidential leadership.

Social Security has benefitted generations and resulted in arguably the most universally popular social program in our nation’s history. Texas has long-standing historical ties to Social Security. As a matter of fact, the first Social Security Administration local field office was opened in Austin on October 14, 1936. Today, there are more than 1,300 such offices around the country.

With 10,000 of us joining the ranks of the retired each day, it is important that we keep this program strong and in sync with how people live today. Any changes should be discussed as part of a broader conversation about how to help Americans prepare for a secure retirement.

“Social Security is an integral part of most people’s retirement,” says Houston-based AARP volunteer Mari Okabayashi, who has been following this national conversation for years. “For Boomers, especially, it’s an integral part of their retirement years.”

As the electoral focus shifts to Texas on March 1, it’ll be time to use the leverage we have as Texans to focus the attention of the candidates on the issues important to each of us. So, in those critical moments when you’re casting your primary election vote for president, be sure to consider where the candidates stand on Social Security. Your future financial security, and that of your loved ones, may one day depend on it.

Bob Jackson is director of AARP Texas. AARP is a nonprofit, nonpartisan membership organization serving more than 2.2 million members in Texas.