American Seniors Need a Break
We cannot pretend that the last few years have not been challenging for many of us. With the Covid pandemic, food shortages, and inflation pushing prices higher and higher, many Americans have been struggling financially. Sadly, it’s often the most vulnerable in our society who suffer the most. Older Americans who spent years working and paying into Social Security now face significant challenges when it comes to affording their basic needs.
Is Retirement Even Affordable in 2023?
Retirement may seem like the end goal after decades of working. We may have ideas of what retirement looks like, whether it’s traveling and doing the things you never had time to do or just enjoying some well-earned rest. Unfortunately, this is not the way it works for many Americans. Retirement planning is a must, and Social Security is not enough to live on alone. Even with a solid retirement plan, it can be very challenging to get by.
Is Social Security Going to Run Out?
It’s a common talking point in the political world to discuss how long Social Security funding will last. Some argue that current workers will not have Social Security benefits when they reach retirement age. To be fair, this is why Congress passes new budgets to fund programs like Social Security. It’s unlikely that funds will actually run out any time soon. However, the system does need to be fixed. Even though funds are available, they are not sufficient for the needs of older Americans.
Is Social Security Reform Possible?
Social Security reform is definitely a possibility. While no significant action has been taken on the issue, there is a bill that could change everything. We urge Congress to pass The Greatest Generation Benefits Act. This legislation would provide struggling retirees with the funds they need to live in a time of economic uncertainty.
What Does The Greatest Generation Benefits Act Mean For American Seniors?
The bill we call The Greatest Generation Benefits Act would dramatically increase benefits for members of the greatest generation — those who gave the most during WWII and Korea. This legislation would:
- Increase monthly benefits by $85 for Seniors starting at age 82.
- Increase benefits for these retirees by 4 percent every subsequent year.
- Help Social Security keep up with Inflation
If this sounds like the change older Americans need, please take a moment to sign our petition to Congress. Want to see the latest updates on this and more, follow us on Facebook and Twitter.