Seven Hard Truths Americans Should Know About Social Security in 2021—and Five Ways to Strengthen Social Security
Social Security’s projected insolvency in 2033, followed by 24 percent benefit cuts for all, means that most Americans will be affected by the program’s shortfalls. The costs of congressional inaction are exponential. At $19.8 trillion and rising, Social Security’s unfunded obligations are higher than $154,000 per household. A bigger Social Security program is not better. A more targeted program could solve Social Security’s shortfalls and increase incomes and opportunities for all.
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