Is Social Security Going to Blow Up? The Answer Might Surprise You.
Does America's leading retirement program have a solvency issue?
In February, more than 52 million retired-worker beneficiaries took home an average Social Security check of $1,980.86. While this is a relatively modest payout, it nevertheless keeps more people out of poverty than any other government program.
According to an analysis from the Center on Budget and Policy Priorities, Social Security lifted 22 million people above the federal poverty line in 2023, 16.3 million of whom were aged 65 and over.
Additionally, 23 consecutive years of surveys from national pollster Gallup have shown that 80% to 90% of retirees, including 88% in April 2024, require their Social Security check to cover at least some portion of their expenses.
