Americans are Increasingly Reliant on Social Security and Other Government Programs

The number of Americans who are dependent upon government programs for a large portion of their income has skyrocketed over the past 50 years. Citing a study by a bipartisan think tank group, NewsNation reports that 53 percent of Americans get at least a quarter of their income from government aid such as Social Security.

Also, the article noted that back in 1970, “only 1 percent relied that heavily on government money.” The big reason is our aging population. One in six Americans is age 65 or older. That means a lot of people are old enough to receive Social Security retirement benefits.

This illustrates the importance of resolving the Social Security solvency issue. The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and will ensure the long-term solvency of the Social Security program.