India  

Americans Feeling Major Anxiety Over the Doomed Social Security Program

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Americans Feeling Major Anxiety Over the Doomed Social Security Program

Americans Feeling Major Anxiety Over the Doomed Social Security Program

Americans Feel Major , Anxiety Over the Fate of the , Social Security Program.

'Newsweek' reports that about 71% of people in the United States have expressed concerned about the future of the Social Security program.

A recent Social Security Administration announcement predicted that reserves are projected to be exhausted by 2037.

.

In December, a Transamerica Center for Retirement Studies survey uncovered major anxiety about the future of the program amid current economic instability.

According to the survey, fears of Social Security reductions or elimination rank among the top concerns for lower-income households.

According to the survey, fears of Social Security reductions or elimination rank among the top concerns for lower-income households.

That anxiety spanned across both racial and gender divides, suggesting a nationwide sense of apprehension regarding financial stability in retirement.

'Newsweek' reports that the survey comes as inflation remains persistently high.

.

Housing, motor vehicle insurance, the cost of hospitals and care of invalids at home—these are the savings-draining black holes even when inflation is low, Mary Johnson, Social Security and Medicare policy analyst for The Senior Citizens League, via 'Newsweek'.

Despite overall inflation falling to 3.1%, the TSCL said that over two-thirds of older adults have reported a 10% increase in monthly costs for housing, food and medications.

.

According to the Social Security Administration, approximately 67 million Americans receive Social Security benefits every month.

.

Those benefits total about $1.4 trillion in payments annually.

.

'Newsweek' reports that the Transamerica study suggests that lawmakers need to reassess the current doomed trajectory of the Social Security program.


You Might Like


💡 newsR Knowledge: Other News Mentions

Americans Americans Citizens and nationals of the United States

Americans upset about Trump win offered '€1 houses' in Italy

Americans distraught by the re-election of Donald Trump are being offered an escape route - a €1 house in an Italian village.
Sky News

Michael Moore Says Americans Are Not Good People, Electing Trump Latest Crime

Michael Moore is blasting Americans as a collective ... saying electing Donald Trump is the latest in a laundry list of problematic behavior -- and the country's..
TMZ.com
Donald Trump's New Defense Minister Choice Raises Alarm for Americans | Fox News Host Pete Hegseth [Video]

Donald Trump's New Defense Minister Choice Raises Alarm for Americans | Fox News Host Pete Hegseth

Donald Trump’s latest pick to head the Pentagon has raised eyebrows: Pete Hegseth, a Fox News veteran with no senior military experience, is nominated to lead the U.S. Department of Defense. Known for his strong pro-Israel stance and vocal criticism of "woke-ness" in the military, Hegseth's nomination is sparking debate. Can a TV host truly navigate the complexities of global military leadership, especially amid ongoing international crises? In this video, we dive into Trump’s controversial choice, the implications for U.S. military policy, and what it means for America's relationship with Israel. #Trump #PeteHegseth #Pentagon #FoxNews #ProIsrael #DefenseSecretary #MilitaryLeadership #USPolitics #Israel #WokenessInTheMilitary #NationalSecurity #Trump2024 ~PR.274~ED.103~HT.334~

Credit: Oneindia    Duration: 03:44Published
Arab-Americans flock to Trump in US presidential election [Video]

Arab-Americans flock to Trump in US presidential election

Credit: FRANCE 24 English    Duration: 01:55Published