It is far more distant problem that needs solution but it isn't pressing as Medicare issue. President Obama's plan is to protect and strengthen social security without putting current retiree at risks. President Obama's plan requires: Eliminate Income Taxes for Seniors Making Less Than $50,000: Obama and Biden will eliminate all income taxation of seniors making less than $50,000 per year. This will provide an immediate tax cut averaging $1,400 to 7 million seniors and relieve millions from the burden of filing tax returns. "(Protect social security Par.4). Protect and Strengthen Medicare: Obama and Biden are committed to the long-term strength of the Medicare program. They will reduce waste in the Medicare system -- in part by eliminating subsidies to the private insurance Medicare Advantage program -- and tackle fundamental health care reform to improve the quality and efficiency of our healthcare system. They support closing the "doughnut hole" in the Medicare Part D prescription drug program. "(Protect social security Par.9). .

             In contrast, Romney's claim solution that will solve the problem consist of first, the retiree age should be slowly increase to account for increases in long legetivity. Second, benefits should continue to grow but that the growth rate should be lower for those with higher incomes. Romney wants to gradually increase retirement age from the fact that American's life expectancy is increasing. Social security administrations estimated Romney's plan would erase less than 60 percent of social security's shortfall. Let's just say for an average person earning $45,000 a year who retires at 65, social security will replace 37 percent of that person's pre-retirement income once the age reaches to 67. Here is Paul Ryan's explanation corresponding to raising the retirement age, "These two steps would eliminate the long-term deficit in Social Security, according to the official analysis of the plan done by the Office of the Chief Actuary at Social Security.