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For Sen. Barack Obama, it’s simple: “Retirement accounts do better if the economy as a whole does better.”

The key is turning the economy around.

In a tightly scheduled telephone interview on AARP Radio on Monday, the Democratic presidential nominee laid out priorities that emphasized sacrifice and personal responsibility. Obama stressed that all Americans, not just older Americans and the poor, would have to step up and do their share to turn things around.

(AARP Radio has invited Sen. John McCain for a similar interview. See an earlier Bulletin interview with McCain. Earlier this year, both McCain and Obama addressed AARP members in live webcasts.)

Obama’s comments came just two hours after he urged voters in Ohio to “turn the page” and move on from Bush administration policies. Republican nominee McCain was on the stump in the same state; in Cleveland he pushed his $300 billion proposal to rescue the housing market and detailed his plan to spark new job creation by lowering taxes.  

Here are excerpts from Obama’s radio interview:

Protecting older Americans’ future.  Obama’s economic plan calls for increasing market regulation (to save retirement accounts), eliminating income tax on Social Security for those who make less than $50,000 a year and stemming the rising costs of prescription drugs.

Energy. Americans need to be more energy-efficient. How? Raise fuel efficiency standards on cars or better yet, “turn off lights.”

“We need to take the steps to be more energy-efficient,” Obama said. “We should have done that right after 9/11.” President Bush should have called for that, he said, but “that call has never come. It will if I’m elected president.”

Fixing health care. “Health care is the biggest drag on our economy,” Obama said. His health care plan focuses heavily on prevention—reducing the risk of chronic diseases, which come with higher treatment costs—and stressing information technology.

Saving Social Security. “Social Security, structurally, is much more sound than Medicare is,” Obama said. The program will never collapse, Obama said, though benefits could be reduced. Raising the cap on the Social Security payroll tax, and adding a surtax on income above $250,000, would help keep the program afloat.

Education. Obama supports increasing federal funding for schools, but also stresses personal responsibility and parental support.

Wooing older voters. “I’m a young presidential candidate. Quite legitimately, people who have years of experience are going to look for someone with more experience.”

Obama stressed that he may lack the life experience many AARP members have, but was raised by someone who does—his ailing grandmother.

“The one thing I’ll say about my grandmother is that she’s someone who’s a part of the greatest generation. … But she was also somebody who was able to save enough and rely on a combination of savings, Social Security and pensions so that she’s been independent and living in her own place. And I think it’s important that she was able to retire and live with dignity and respect and that’s what I want to fight for, for every American.”

Check out how Obama and McCain compare on these and other issues.

Tina Johnson-Marcel is news editor at AARP Bulletin Today.