Thomas Carper (D)
Social Security and Medicare are among the most successful government programs in our nation's history, and serve as a lifeline to millions of America's seniors. That's why as Delaware's Congressman I fought for fiscal responsibility and balanced budgets, to assure the solvency of Social Security and Medicare. Before we use the surplus for new spending or a large tax cut for the wealthy, we ought to strengthen Social Security and Medicare first, and pay down the debt. We ought to keep Social Security off-budget, and use most of the projected federal budget surplus to pay off the national debt by 2013. If we devote the interest savings from debt reduction to shore-up the Social Security trust fund and protect the integrity of the trust fund by honoring the Social Security lockbox, we can extend Social Security's solvency until at least 2050. To help more Americans save for their retirement, I would also create supplemental individual savings accounts and provide funds to match the savings of low- and moderte-income working families. This would enable more Americans to accumulate wealth over the course of their working years and thereby supplement the benefits guaranteed to them in their retirement by Social Security.