Major Anxiety Among Americans Over the Future of Social Security 😟

Americans Feel Major , Anxiety Over the Fate of the , Social Security Program.<br />'Newsweek' reports that about 71% of people <br />in the United States have expressed concerned <br />about the future of the Social Security program.<br />A recent Social Security Administration <br />announcement predicted that reserves <br />are projected to be exhausted by 2037. .<br />In December, a Transamerica Center for Retirement <br />Studies survey uncovered major anxiety about the future <br />of the program amid current economic instability.<br />According to the survey, fears of Social Security <br />reductions or elimination rank among the top <br />concerns for lower-income households.<br />According to the survey, fears of Social Security <br />reductions or elimination rank among the top <br />concerns for lower-income households.<br />That anxiety spanned across both racial and <br />gender divides, suggesting a nationwide sense of <br />apprehension regarding financial stability in retirement.<br />'Newsweek' reports that the survey comes <br />as inflation remains persistently high. .<br />Housing, motor vehicle insurance, <br />the cost of hospitals and care of <br />invalids at home—these are the <br />savings-draining black holes <br />even when inflation is low, Mary Johnson, Social Security and Medicare policy <br />analyst for The Senior Citizens League, via 'Newsweek'.<br />Despite overall inflation falling to 3.1%, the TSCL said that <br />over two-thirds of older adults have reported a 10% increase <br />in monthly costs for housing, food and medications. .<br />According to the Social Security Administration, <br />approximately 67 million Americans receive <br />Social Security benefits every month. .<br />Those benefits total about <br />$1.4 trillion in payments annually. .<br />'Newsweek' reports that the Transamerica study <br />suggests that lawmakers need to reassess the current <br />doomed trajectory of the Social Security program.