By Jim Kimbrough
Special to NKyTribune
When the presidential candidates accept their parties’ nominations in the coming weeks, millions of Americans will be watching, and nearly every one of them is either paying into or receiving the social security benefits they’ve earned.
Over 2.2 million Kentuckians are paying into Social Security and they deserve to know how the candidates will keep it strong for their kids and grandkids. Considering the program funnels approximately $20 billion into the state’s economy annually, Kentucky has a huge stake in its future.
Social security has helped nearly 250 million Americans in its 80 year history. But as America evolved, social security hasn’t. If our leaders don’t act, future generations could face cuts of up to $10,000 a year. Hard-working people who earned their benefits would get slammed with across-the-board cuts of 25 percent.
Why do we need to update social security? The average 65 year old is living seven years longer than in the 1930’s. People are having fewer children, so there aren’t as many people paying into social security.
More women are working than in years past and qualifying for their own benefits. Finally, a growing share of earnings are going to those at the top of the pay scale, which means they are exempt from social security’s payroll tax.
It is critical candidates spell out their plans to keep social security strong. Voters need to know what their plans mean for families, what they would cost, and how they will keep the promise of Social Security for our children and grandchildren.
No more sound bites. No more vague generalities. Voters want answers. Now is the time for candidates to share their plans, in detail, with all voters. And the candidates’ acceptance speeches are a great time to provide them.
Anybody running for president should be able to tell us how they will lead on social security.
Franklin Roosevelt paved the way for the new program during the Great Depression. When funds ran low many years later, Ronald Reagan worked across party lines to achieve a major overhaul.
A Democrat and a Republican – each understood the need to keep Social Security strong for future generations. Each committed themselves to action and followed through.
This should not be about politics as usual. This is about solving a problem. And it’s not going to happen until today’s leaders step up, just like their predecessors did.
The longer our leaders wait, the harder it will be to come up with a good solution.
The nominees will benefit if they highlight social security at the peak moment of their conventions. Voters recognize leadership when they see it.
By leveling with the public on social security in one of the most important speeches of their campaign, Hillary Clinton and Donald Trump will give voters answers they need. And they will pass a key test of leadership in their race for the White House.
Jim Kimbrough is the AARP Kentucky state president
The July-August issue of the AARPBulletin has a good article on where Clinton and Trump stand on Social Security. It can be accessed online at http://www.aarp.org/politics-society/government-elections/info-2016/election-2016-and-social-security.html The question AARP asked of each candidate: What will you do to make Social Security financially sound for future generations?