Social Security has had a significant impact, lifting 22 million Americans out of poverty each year, mostly seniors, according to the Center on Budget and Policy Priorities.
“Social Security is a bedrock of this nation,”
says Frank Garcia, a registered Social Security analyst. He notes the program faces a “silver tsunami” as many Americans reach retirement age, putting pressure on the program, expected to see its retirement trust fund run dry in 2033.
Author summary: Experts discuss Social Security's future.