In today’s press release, we officially unveiled two new websites featuring the Social Security Insolvency clock, a tool we hope will convey the gravity of the Trust Fund’s current state to both Americans and our Congress.
SocialSecurityInsolvencyClock.org and SocialSecurityDefaultClock.org are both steadily ticking down to 2035–the year the Social Security Trustees estimate the Trust Fund will exhaust its reserves. At that time, with no political intervention, benefits would need to be slashed as much as 25% for all beneficiaries to continue payments to retirees.
We don’t need to tell anyone that most retirees can’t handle losing a quarter of their benefits. Half of all seniors rely on Social Security for 50% of their total income, and one in five depend on it for 90% of their income.
Our goal is to push this issue to forefront of the political agenda and educate as many Americans as we can. The sooner we motivate our elected officials to take legislative action, the more options we have to avoid this catastrophe and phase in reforms smoothly.
And to learn more about the Social Security Insolvency Clock project, check out today’s full press release right here:
WASHINGTON, July 10, 2019 /PRNewswire/ -- Today, seniors advocacy nonprofit, The Seniors Center, through their grassroots campaign #KeepOurTrust, unveiled two...