Protecting Social Security, Medicare, and Rights of Seniors

By Greg P. Harris

We not only need to ensure the long-term solvency of social security and Medicare, but we should also increase benefits for seniors, including prescription drug coverage and assisted homecare.

Advocates of private accounts argue that fluctuations in the stock market average out over time. But the ebbs and flows of the stock market do not respect an individual's retirement plans. The losses to 401(k) and other retirement funds that came with the recent corporate scandals prove the risk inherent in the stock market. Moreover, stocks often remain down for extended periods. Between January 1973 and September 1974, for example, the stock market declined by 43 percent and didn't return to its 1972 high for almost 10 years. Unlike our current social security system, the stock market offers no guarantees. To expose retirement benefits to the inescapable risks of the stock market is irresponsible public policy.

A weakened Social Security program would be particularly detrimental to African-American and Hispanic retirees. Social Security is the single most important source of income for these groups. On average, it provides about three-quarters of their retirement income. For one in every two African-American and Hispanic seniors, Social Security benefits provide 90 percent or more of their total income.

Some members of Congress claim that the Consumer Price Index (CPI) overstates inflation and want to legislate a reduction in CPI in order to reduce Social Security spending and extend the solvency of the trust fund. Other Members of Congress simply feel that Social Security Cost of Living Adjustments (COLAs) are too expensive and want to reduce COLAs in order to reduce the deficit. I will oppose any effort to reduce the social security CPI or COLAs. If anything, the CPI may underestimate the impact of inflation on senior citizens because of costs associated with health care. I support the establishment of a "Seniors CPI" that more accurately reflects the actual burden of inflation on retirees.

Medicare Medicare prescription drug benefits should be available to anyone eligible for Medicare and for persons with disabilities, regardless of income or health status. I believe that legislation to establish a voluntary, universal, and affordable prescription drug benefit as part of Medicare should be one of Congress's top priorities.

With the number of senior citizens about to double, long-term care will become an even more pressing issue. I strongly support the development of a comprehensive, long-term care policy. I also support strengthening minimum staffing standards for licensed nurses and nurses-aides that are linked to the number of residents being served.

Medical Research From both an economic and a humane perspective, nothing is more important to the long term health concerns of Americans than medical research. Increased funding for biomedical research holds the most promise for reducing high medical and long-term care costs associated with the most debilitating diseases, like Alzheimer's disease, and should be among our government's highest priorities.