The Democratic candidate for U.S. Senate says changes need to be made to entitlement programs.
Bob Kerrey says he wants to cut federal spending to 21 percent of GDP. That includes cutting Medicare and Medicaid costs, and changing requirements on prescription drug discounts. Kerrey says rising costs are in part due to a change in demographics.
Kerrey, a former Nebraska Governor and U.S. Senator, says Medicare and Social Security are the biggest budget items and hardest areas to cut. He says cutting spending to 21 percent of GDP means sacrifices will be necessary.
State Senator Deb Fischer, Kerrey’s opponent, says in a statement she would support raising the retirement age for Americans 40 and younger. Fischer says “we need to honor our commitment to Americans who are currently enrolled in the Social Security program and those approaching retirement age.”