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Recent research has found that Social Security is more effective at reducing poverty than previously believed. Without income from Social Security, two thirds of the elderly would be considered poor.
https://www.pgpf.org/blog/2018/09/what-effect-does-social-security-have-on-poverty
The number one financial worry for Americans is having enough money for retirement — and for good reason.
https://www.pgpf.org/blog/2018/08/three-major-challenges-to-retirement-security
Federal entitlement programs will more than double between 1983 and 2048.
https://www.pgpf.org/chart-archive/0027_entitlement-programs-proj
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
The report projects that in 2018 — for the first time since 1982 — the program’s total costs will exceed its total income.
There are numerous viable options to preserve the retirement system, including Social Security, in a fiscally sustainable way that gives families adequate time to plan and strengthens support for those who need it the most.
Based on the Trustees' projections, combined Social Security benefits could be cut by 21 percent in 2034 without legislative action.
https://www.pgpf.org/chart-archive/0246_social-security-21-percent-cut
The normal retirement age for receiving full Social Security benefits depends on the year of your birth.
https://www.pgpf.org/chart-archive/0245_social-security-year-of-birth
Social Security provides social insurance by redistributing income from high earners to low earners.
https://www.pgpf.org/chart-archive/0244_social-security-income-redistribution
Retired and disabled workers make up 82 percent of OASDI beneficiaries.
https://www.pgpf.org/chart-archive/0243_oasdi-beneficiary-percentages
