4 Social Security Changes With Bipartisan Support Among Americans
Social Security moved more than 26 million Americans out of poverty last year, according to the Census Bureau, making it the most important anti-poverty program in the country. But the aging population coupled with declining birthrates have created a problem. Social Security faces a $20 trillion shortfall over the next 75 years, and the trust fund is on pace to be depleted by 2035.
At that point, the Board of Trustees says income from payroll taxes would cover only 80% of scheduled Social Security benefits, and that figure would drop to 74% by 2096. Of course, Government officials are well aware of the problem -- the Board of Trustees has been forecasting the demise of the trust fund since the 1980s -- but differences in political ideology among Republicans and Democrats have kept change at bay.
On the bright side, a recent survey from the University of Maryland indicates that certain proposed changes to Social Security enjoy bipartisan support among Americans.
Source Fool.com
