I wonder why . . . .
Posted on 07/28/2025 7:30:29 AM PDT by george76
Social Security faces automatic benefit cuts in less than a decade due to the projected insolvency of its trust fund
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Americans' overall confidence in Social Security dropped from 43% in 2020 to 36% in 2025, the lowest level since it fell to 35% in 2010.
Younger Americans Younger Americans are even less confident in the program. Only 25% of respondents between the ages of 18 and 49 were confident in Social Security's future, whereas 48% of those 50 and older expressed confidence.
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retirees are relying more on Social Security than they were two decades ago, with the share reporting they rely substantially on Social Security rising from 51% in 2005 to 65% in 2025. By contrast, the share of retirees who say they don't rely on Social Security has changed little in that timeframe, rising from 10% to 13%.
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80% of respondents are concerned about Social Security being available when they need it in retirement.
Among those who said they aren't confident in Social Security's future, 31% said they don't trust the government to keep its promises, and 27% said they think the money is running out.
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More than 69 million Americans rely on Social Security today, and as America ages, we expect at least 13 million more people to rely on it by 2035
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Social Security's main trust funds would be depleted in 2034, at which time benefits would automatically be cut by 19% to match incoming payroll tax receipts.
(Excerpt) Read more at foxbusiness.com ...
This should make people more ready to modify the system, & go to an individual based savings routine that the gov’t cannot seize for other purposes.
GenZ is losing faith in the system? Thats funny! I lost faith in GenZers a long time ago.
LOL.
That ship sailed many moons ago, young’uns.
I went for early Socialist Insecurity while it could still pay something. This Ponzi scam is nearing its end.
I always tell young folks that they have nothing to worry about as long as the file cabinet in West Virginia is guarded 24/7.
Lol.
How many illegals are milking off of that system?
I had zero faith in it back in the 70’s.
Its still here.
Same.
I wonder why . . . .
I don’t see it going away but it is probably healthy for your own retirement security to believe it IS going away so you are more incented to save and invest.
“””I went for early Socialist Insecurity while it could still pay something. This Ponzi scam is nearing its end.””
When will the funds for WELFARE dry up? They seem to be able to find more money for that every year.
The rats have been using it as weapon for decades. I remember when W wanted to let younger people voluntarily take a small percentage and invest it. The rats screamed W was trying to “gut SS with a risky scheme”. He surrendered without a fight of course and that was that.
Well, they have to figure out a way to protect current recipients. Quite frankly, I would be okay with means-testing. Gov’t made a promise it couldn’t keep, & with a $36 Trillion debt, adjustments are going to have to be made.
I’d take means-testing over a 25% cut across the board, which they’re talking about now. Protect those that need it most & give the young folks a better option for the future.
A case can be argued, if people are reasonable. The Dems wont’ be, but they’ve pretty well poisoned their brand already.
FICA taxes are mandatory so it’s not a Ponzi scheme . So get a better analogy.
I call it a Ponzi scheme with guns.
It could also be viewed as a protection racket.
Pay or you get kidnapped.
If they raise the cap to 250K, that should extend it past Gen X.
All tariff revenue should be used to shore up SS . Use that revenue steam to buy back all the t-bills in the SS “lock box”.
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