Across party lines, voters want more information on candidates’ plans to strengthen Social Security and Medicare
In the coming November elections, a key group of Virginia voters – non-retired baby boomers ages 50-64 – are driven by economic anxieties that extend well beyond the single issue of jobs, according to the results of a new series of surveys by AARP. All voters age 50+ want the candidates to explain their plans for Social Security and Medicare, which will help them determine their votes.
50+ Voters’ Financial Outlook: Dissatisfied and Anxious
The particular pressures facing boomer voters in Virginia are reflected in a new “Anxiety Index,” which measures their worries on issues including prices rising faster than incomes (72% worry somewhat or very often about this), health expenses (58%), not having financial security in retirement (67%) and paying too much in taxes (66%).
By comparison, 29% of these boomer voters regularly worry about being able to find a full-time job with benefits. Less than one-fifth of voters age 50+ regularly worry about keeping up with their mortgage or rent. These issues are more widely discussed as leading economic issues for voters in the coming election.
“We know the issue of jobs is very important to voters age 50-plus, but any meaningful discussion of the economy and this year’s election has to include the future of Social Security and Medicare,” said Nancy LeaMond, AARP Executive Vice President. “For these voters, ‘retirement security’ and ‘economic security’ are largely the same thing.”
Non-retired boomer voters in Virginia are pessimistic about retirement. More than two-thirds (67%) believe they will have to delay retirement and more than half (65%) worry they won’t have enough to retire. Of the boomers surveyed, 42% don’t think they’ll ever be able to retire. A solid majority (63%) believe the recent economic downturn will force them to rely more on Social Security and Medicare.
Anxiety about retirement security is a main driver for all Virginia voters 50+. Two-thirds (66%) of voters 50+ worry about prices rising faster than their incomes, and nearly half (49%) worry about having unaffordable health expenses, despite the relative security provided by Medicare.
50+ Voters and the 2012 Elections
Economic anxieties among Virginia voters 50+ are leading to a general dissatisfaction with political leaders. Voters 50+ are more likely to say that their personal economic circumstances were negatively affected by political gridlock in Washington (74%) as by the economic downturn (65%). Nearly half (46%) of these voters disapprove of President Obama’s job performance, and more than eight in 10 (83%) disapprove of Congress. As of now, Virginia voters 50+ are nearly evenly divided in their presidential vote preference (45% for President Obama, 46% for Governor Romney, and 9% not sure), and they are similarly split when it comes to choosing their next U.S. Senator. The survey revealed that for Virginia 50+ voters, the U.S. Senate race is up for grabs, with 14% unsure who they will choose to be Senator. Of those surveyed, 44% say they will vote for former Senator George Allen, the Republican candidate, and 42% say they favor former Governor Tim Kaine, a Democrat.
The concerns of Virginia 50+ voters highlight the importance of Social Security and Medicare as election issues. They think the next president and Congress need to strengthen Social Security (92%) and Medicare (91%). They also overwhelmingly (92%) think that these issues are too big for either party to fix alone and require Republicans and Democrats to come together.
Voters 50+ in Virginia are looking to the candidates for more information on these key issues. These voters overwhelmingly think the candidates have not done a good job of explaining their plans on Social Security (68%) and Medicare (64%). Moving forward, a large majority of these voters – across party lines – says that getting more information on the candidates’ plans on Social Security (68%) and Medicare (67%) will help them determine their vote on Election Day.
“The message from voters 50+ is clear,” added LeaMond. “In a razor-tight election, candidates have a major opportunity to reach key voters by speaking about their plans on Social Security and Medicare – and they are making a huge gamble if they ignore them.”
Earlier this year, AARP launched “You’ve Earned Say,” a national conversation to ensure that Americans have a say in the future of Social Security and Medicare. To date, more than 2.1 million Americans have engaged with You’ve Earned a Say to share their thoughts about how best to protect and strengthen health and retirement security for today’s seniors and future generations.
The community conversation on Medicare and Social Security will be held in Roanoke on September 25th. For more information on the events visit www.aarp.org/va.