Social Security Benefits are Failing Seniors
Social Security Benefits are not enough for many seniors to live on. This, unfortunately, is not a new problem. These benefits have long been too low. After spending a lifetime working, Americans should be able to retire comfortably. Social Security alone, however, will not make this a reality.
Is Social Security Livable in 2021?
Social Security benefits do not provide enough in retirement for most Americans. Many American workers reach retirement age and expect Social Security to provide for them. This, however, is not the reality, and retirees quickly learn the truth. To retire comfortably, the average retiree will need significant savings or income beyond Social Security. Those who try to live on Social Security benefits alone find that they don’t receive enough to meet their basic needs. Some, even end up living in poverty.
Do Social Security Benefits Increase With Inflation?
It is vitally important that these benefits are adjusted for inflation and rising costs. Unfortunately, Social Security can’t seem to keep up. The annual Cost of living Adjustment (COLA) exists to offset these increases. However, the actual amount of the increase fails to meet the needs of seniors facing rising medical costs and other expenses.
Is an Increase Coming?
There has been a great deal of talk about the need to reform Social Security. As you can see from the results of our nationwide survey, there is a great deal of public support for this much-needed change. Furthermore, Social Security reform has been a discussion topic for the Biden Administration in recent months. The problem is talk and action are two different things. We believe that the most promising plan for real change is The Greatest Generation Benefits Act.
What is The Greatest Generation Benefits Act?
The bill we call The Greatest Generation Benefits Act would dramatically increase benefits for those over age 82. This proposed legislation would give the great Americans who lived through World War 2 and The Korean War the benefits they earned. This includes an increase of $85 per month plus a 4 percent increase every subsequent year. This is far more than the 1.3 percent COLA for 2021. You can help by signing our petition and sharing it on Facebook and Twitter.
