now,lastyear,wewiselyreservedallofthesurplusuntilweknewwhatitwouldtaketosavesocialsecurity.again,isay,weshouldn''tendanyofit,notanyofit,untilaftersocialsecurityistrulysaved.firstthing''sfirst.
second,oncewehavesavedsocialsecurity,wemustfulfillourobligationtosaveandimprovemedicare.alreadywehaveextendedthelifeofthemedicaretrustfundby10years,butweshouldextenditforatleastanotherdecade.tonight,iproposethatweuseoneoutofeverysixdollarsinthesurplusforthenext15yearstoguaranteethesoundneofmedicareuntiltheyear2020.
but,again–but,again,weshouldaimhigher.wemustbewillingtoworkinabipartisanwayandlookatnewideas,includingtheupcomingreportofthebipartisanmedicarecommiion.ifweworktogether,wecansecuremedicareforthenexttwodecadesandcoverthegreatestgrowingneedofseniors–affordableprescriptiondrugs.
third,wemusthelpallamericafromtheirfirstdayonthejobtosave,toinvest,tocreatewealth.
fromitsbegiings,americahavesulementedsocialsecuritywithprivatepeioandsavings.yettodaymillioofpeopleretirewithlittletoliveonotherthansocialsecurity.americalivinglongerthaneversimplymustsavemorethanever.
therefore,inadditiontosavingsocialsecurityandmedicare,iproposeanewpeioninitiativeforretirementsecurityinthe21stcentury.iproposethatweusealittleover11percentofthesurplustoestablishuniversalsavingsaccounts–usaaccounts–togiveallamericathemeatosave.
withthesenewaccounts,americacaninvestastheychooseandreceivefundstomatchaportionoftheirsavingswithextrahelpforthoseleastabletosave.usaaccountswillhelpallamericatoshareinournation''swealthandtoenjoyamoresecureretirement.iaskyoutosuortthem.
fourth,wemustinvestinlong-termcare.
iproposeataxcreditof$1,000fortheaged,ailingordisabledandthefamilieswhocareforthem.long-termcarewillbecomeabiggerandbiggerchallengewiththeagingofamerica–andwemustdomoretohelpourfamiliesdealwithit.
iwasbornin1946,thefirstyearofthebabyboom.icantellyouthatoneofthegreatestconcerofourgenerationisouraolutedeterminationnot