With Automatic Benefit Cuts Looming, Nearly All Voters Want Lawmakers to Reform Social Security
Social Security, America’s essential public retirement program, is on a path to depletion in less than 10 years. If lawmakers fail to act, there will be an automatic 23% annual benefit cut for all recipients. That’s a loss of about $17,400 per year for the typical retired couple
The vast majority of voters are urging lawmakers to take action to strengthen Social Security, according to a new national poll, jointly conducted by Democratic firm Global Strategy Group and Republican firm North Star Opinion Research.
Further Reading
Social Security Faces Serious Financial Shortfalls and Other Takeaways From the Trustees Report
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Social Security and Medicare Trust Funds Could Be Depleted Within the Next Decade
Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.
A Bipartisan Roadmap for Social Security Reform
Lawmakers are running out of time before automatic reductions to benefits are activated; the Brookings Institution plan is a valuable contribution to the policy discussion.