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Protecting Social Security for Future Generations
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The Social Security Act, crafted as part of a national plan to provide economic security for the Nation’s workforce, was signed into law in 1935. Social Security serves over 66 million Americans, the majority of whom are retired Americans and their families. Without Social Security benefits, experts estimate that about four in ten Americans, four in ten Americans aged 65 or older would have incomes below the poverty line. Social Security along with Medicare will make up more than half of the spending growth over the next decade. Without new revenue, Social Security will only cover 80 percent of its projected benefits by 2035. This book examines how to close that revenue gap to preserve the promise of Social Security.
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