Currently, standard Social Security retirement age is 65—67 for those born in 1960 or later—but some financial experts have advised raising the standard retirement age to 68, or even 72, to acknowledge increased life expectancy and reduce the number of years most retirees will receive benefits. Other cost-saving proposals focus on reducing benefits to retirees.
Here's how to compare Obama vs. McCain on raising the retirement age and cutting Social Security benefits.
Obama on Raising the Retirement Age or Cutting Social Security
Barack Obama says he is opposed to raising the retirement age or cutting Social Security benefits.
According to his campaign website, “Obama will protect Social Security benefits for current and future beneficiaries alike. And he does not believe it is necessary or fair to hardworking seniors to raise the retirement age.”
On Meet the Press in 2007, Obama said as president he would convene a meeting where all available options could be discussed, but “I believe that cutting benefits is not the right answer; and that raising the retirement age is not the best option.”