Why the Majority of Americans Have Lost Faith in Social Security

Americans are getting concerned about the future of Social Security. According to The Motley Fool, three out of every four people now say they can’t count on Social Security when planning for retirement income. And they have every right to be worried.

Social Security gets most of its revenue from payroll taxes. As more Baby Boomers enter retirement, that revenue stream is drying up. Experts say there is only enough money left in its trust fund to pay full benefits through 2034. Afterward, if nothing changes, benefits would have to be cut — by as much as 20 percent. Obviously, no one wants to see that.

The Seniors Trust believes the best way to prevent benefit cuts and bolster the trust fund is to enact the Social Security Expansion Act. Not only would this landmark piece of legislation ensure Social Security solvency through 2096, but it would put an additional $200 in benefits into retirees’ pockets each month.

Show lawmakers the time to act is now – before benefits need to be cut. Join our efforts by signing our petition to Congress.