Social Security has had a significant impact, helping 22 million Americans, mostly seniors, out of poverty each year, according to the Center on Budget and Policy Priorities.
“Social Security is a bedrock of this nation,”
says Frank Garcia, a registered Social Security analyst. The program faces a “silver tsunami” as many Americans reach retirement age, putting pressure on it. The retirement trust fund is expected to run dry in 2033 under current estimates.
Author summary: Experts discuss Social Security's future.