McCain:  The senator has said he supports supplementing Social Security benefits with private investment accounts. McCain beleives the Social Security system is in bad need of reform, but does not believe taxes should be raised to fix it.

He has also said he belives  its "a disgrace" that present day retirees are being paid off the backs of younger workers.

Quote: "Every man, woman, and child in America needs to know it's going broke, and we've got to do the hard things. We've got to fix it for the future generations of Americans....It's got to be bipartisan."

Obama: The senator plans to stop any plans to privatize Social Security. He also poses an increase in Social Security taxes. Obama would call for those making over $250,000 to pay 2 to 4 percent more towards Social Security.

Income taxes would be eliminated for seniors making less than $50,000 a year.

Quote: "I think the best way forward is to adjust the cap on the payroll tax so that people like me pay a little bit more and people in need are protected. That way we can extend the promise of Social Security without shifting the burden onto seniors."