Social Security currently runs a healthy surplus, but a number of factors lead the program’s trustees to anticipate a modest shortfall over the next 75 years. The conventional wisdom is that the projected gap is driven largely by rising life expectancy, and that the key to restoring solvency is raising the normal retirement age, the age when participants are eligible for full retirement benefits. After all, if life has given us a bounty of extra years, shouldn’t our work ethic incline us to devote a little time to working longer? Continue reading
Social Security is a vital safety net that protects American families. Children are protected in the event they are orphaned or their parents become disabled. Workers are protected if they can no longer work because of disability and parents and grandparents are protected when they become too old to continue working. Social Security is a sacred trust between generations and represents our Latino family values.
This report released by Latinos for a Secure Retirement will assist elected leaders, their staffs, and the general public to better understand the importance of Social Security and work to further strengthen its finances without cutting benefits or increasing the retirement age.
Many young people don’t think Social Security will be there for them when they retire. Coupled with the doubt about Social Security’s longevity is a general apathy toward learning its basic functions and how it operates. Young people are uninformed and therefore misinformed. They do not understand how Social Security works, who it affects, and how it fits into their future plans.
The Economic Policy Institute seeks to address the skepticism and lack of interest and understanding with this comprehensive guide to Social Security—written by young authors for young people.