and a large number of us know that as our only income which portends some increase in trouble coming soon, for us elderly, from this, but then again ukraine is being saved from being devoured by the putin. now what's more important you might ask but don't count on a real and good reason from the monkey who claims to represent you in 'our' government;
Millions of Americans could see their Social Security benefits cut in just nine years, and according to a recent report, most people have no idea.
A new Peter G. Peterson Foundation survey found that only 30% of Americans knew that Social Security benefits would be slashed by 21% in nine years if there were no reforms.
That cut would amount to nearly $17,000 per year for the average couple, the report said. Those figures are based on projected revenue shortfalls growing over the next decade, potentially triggering automatic reductions.
After learning about the looming cuts, 97% of respondents agreed it’s important for leaders elected this fall to strengthen the federal retirement program so it’s fully available.
“Voters understand that ‘not touching’ Social Security is not an option because automatic cuts are unacceptable and waiting only makes the problem more costly and difficult to solve,” Michael A. Peterson, CEO of the Peterson Foundation, said in a statement.
The latest survey reveals a disconnect between the Social Security funding crisis and Americans’ understanding of a problem that lawmakers have continued to kick down the road.
Due to the country’s aging population, Social Security spending is now outpacing revenues. In 2022, Social Security spent $147 billion more than it brought in — a gap expected to widen to $670 billion in 2033, according to the Peterson Foundation..........more........
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