The Grim Reality of Donald Trump's and Joe Biden's Social Security Proposals
For the last 23 years, national pollster Gallup has surveyed retirees to gauge their reliance on America's top retirement program, Social Security. Over that time, up to 90% of respondents -- including 88% in 2024 -- have noted that their Social Security checks account for a "major" or "minor" source of income. Put another way, very few retirees would be able to make ends meet without Social Security.
Gallup's finding is what makes the following statement so unnerving: Social Security is in trouble.
Although this leading program is in absolutely no danger of going bankrupt or becoming insolvent, the prospect of sizable benefit cuts in the not-too-distant future is very real. The American public is counting on its elected officials to fix what ails this program -- and that all starts in the Oval Office with either Donald Trump or Joe Biden, depending on what happens on Election Day.
Source Fool.com
