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
Lawmakers are Running Out of Time to Fix Social Security
Without reform, Social Security could be depleted as early as 2032, with automatic cuts for beneficiaries.
Budget Basics: How Does Social Security Work?
Social Security is the largest single program in the federal budget and typically makes up one-fifth of total federal spending.
Budget Basics: Unemployment Insurance Explained
The Unemployment Insurance program is a key counter-cyclical tool to help stabilize the economy and speed recovery during downturns or crises.