For most Americans, Social Security is a program they couldn't live without. For 22 consecutive years, national pollster Gallup has questioned retirees about their reliance on Social Security income and found that no fewer than 80% in any given year need their payout to cover at least some portion of their expenses.

Despite Social Security being vital to the financial well-being of our nation's aging workforce, data shows that its foundation is crumbling. This means whoever voters elect as president in November -- incumbent Joe Biden or former President Trump -- will be tasked with financially shoring up Social Security for future generations of retirees, workers with disabilities, and survivor beneficiaries.

Then-President Donald Trump on a conference call. Image source: Official White House Photo by Tia Dufour.

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Source Fool.com