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.

Continue reading

Source Fool.com