Social Security, retirement income, old age, income security, social insurance


Social Security has benefited more than 55 million people. It has lifted about 14 million seniors and 6 million more people out of poverty without adding a penny to the federal budget. Social Security is increasingly becoming an important source of income for many people. Despite the projected shortfall, the program will continue to meet its obligations for the next two decades, and with minor adjustments, it can be on solid footing for the next 75 years. Cutting the benefits or privatizing may not be the best approach. This paper discusses the structure and function of Social Security and what can be done to strengthen the program.

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