Social Security Benefit Cuts Are Coming: Here's the Timeline of How We Got Here and the Forecast of When These Cuts May Take Place

For most retired Americans, Social Security is a vital income source without which they'd struggle to make ends meet.An analysis from the Center on Budget and Policy Priorities found that payments provided by this all-important program pulled an estimated 22.7 million people above the federal poverty line in 2022, including 16.5 million adults aged 65 and over. The mere existence of Social Security has slashed senior poverty rates from an estimated 38.7% without the program to 10.2% with it.Meanwhile, more than two decades of annual Gallup surveys have shown that anywhere from 80% to 90% of polled retirees lean on their monthly payout to cover at least some portion of their expenses.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool