The Social Security program, established by President Franklin D. Roosevelt, now serves 69 million Americans and is particularly vital for those over 65. Despite its importance and popularity, the program faces significant financial pressures, with projections indicating a funding shortfall that will begin in 2034. Recent changes in administration and the political landscape have intensified concerns about Social Security's stability, including staffing cuts and disputes over misinformation. Current Republican leadership has not proposed effective solutions to address these looming challenges, putting the long-term viability of the program at risk.
The so-called go-broke date for Social Security has been moved up to 2034, meaning it will only be able to pay 81% of benefits beyond that point.
Roosevelt proclaimed the Social Security Act would provide stability for older adults, but today it appears threatened by funding shortfalls and political challenges.
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