Social Security is in a sad state in 2023. The program is failing millions of Americans. Benefits are low, politicians are constantly threatening to cut the program more, and as it stands, there is concern about how long benefits will last. The bigger issue is that this is not something new, but rather an example of a long-standing failure.
Social Security Benefits Are Not Enough
These benefits are designed to care for those who are no longer able to work due to age or disability. However, the program does not provide enough for most to live on. Simply looking at how many people spend their lives working and paying into the system and end up struggling to afford medication, food, and housing shows how deeply flawed Social Security is.
Benefits are Not Guaranteed
It seems sometimes like there is a constantly looming threat that the benefits that many Americans rely on will run out. It’s a political talking point that is mostly centered on government spending. There are also those in Congress that propose cuts to Social Security or use the threat as a bargaining strategy. Furthermore, when our elected officials cannot come to a budget agreement, there is a very real risk of Social Security checks stopping completely.
Failure Against Inflation
One of the biggest issues with Social Security has always been its under-performance when it comes to keeping up with inflation. Cost-of-living adjustments (COLAs) don’t do enough, and as prices go up, benefits do not match.
While the Social Security system needs a lot of work, we believe that passing a bill we call The Greatest Generation Benefits Act will help many retirees who are struggling now. Learn more about this proposed legislation and sign our petition to Congress here.