2014 GA Senate debate: on Social Security

David Perdue: Reduce $86T retirement deal for federal employees

A: We have a debt that's larger than our economy. It's the No. 1 threat to our national security. That's bad enough, $17 trillion. But we have another $86 to $100 trillion dollars coming at us in future federal unfunded liabilities related to Social Security, Medicare and pension and benefits for federal employees. Perdue's solution is honoring obligations to anyone already receiving Social Security benefits, but changing the benefits for anyone coming into the workforce: "Their deal is going to have to be different". Perdue would make the same changes to Medicare.

Michelle Nunn: Bipartisan entitlement reform to preserve Social Security

A: Congress needs to confront the issue of mandatory spending programs, including Social Security and Medicare, which take up approximately 60% of the budget. The trustees of the Medicare trust project that the hospital insurance portion of Medicare could be depleted by 2026; and Social Security will be forced to cut benefits by 23% in 2033 if nothing is done. We must undertake bipartisan entitlement reform to preserve Medicare and Social Security for those currently in or near retirement, take action to strengthen these programs for the future.