An advocacy group claims seniors are worried their children and
grandchildren will suffer because of America's financial
Andy Mangione, director of business development of
the Association of
Mature American Citizens (AMAC), said members want to know now
how the presidential candidates would address this issue.
The Federal Reserve reports that American families have lost
nearly 40 percent of their net worth over the past four years.
Mangione notes that each day more families fall into poverty and
become dependent on food stamps and other government assistance
"The United States is $16 trillion in debt," he tells
OneNewsNow. "There are over 313 million people in the United
States, and their share of that debt is over $51,000. This debt has
to be paid for and is going to be paid for by our children,
grandchildren and children that have not even been born yet. And
our members are concerned about the quality of life that future
generations will have because of all this debt."
Older Americans are also concerned about the future of Social
Security and Medicare.
"This is what's concerning folks in our organization -- the
mismanagement that's threatening the future of these programs for
our children and grandchildren," Mangione tells OneNewsNow.
"They need to be fixed, and they need to be addressed right now.
In fact, they aren't going to get fixed if the folks in Congress
right now are pushing on us a kind of ill-conceived, all-in-one
program like ObamaCare."
According to the Congressional Budget Office, if Congress does
not address the problem, Medicare is predicted to start running a
deficit in 2024. Medicare spending is expected to jump from the
$523 billion of 2010 to $932 billion by 2020.