Eighty-two years after Social Security was created, why doesn’t the agency that administers the program for 61 million Americans have an adequate budget? The Social Security Administration (SSA) is one of the most efficient federal agencies, yet its budget was slashed in 2011 and never fully restored.
President Roosevelt’s vision has most certainly endured. Today, Social Security provides some 61 million Americans and their families with basic financial security upon retirement or disability. For older Americans, Social Security can mean the difference between financial well-being and poverty. Two out of three seniors rely on Social Security for most of their income, and one-third of seniors depend on it for at least 90% of their income. Public polling consistently shows that Social Security enjoys overwhelming support from majorities of Americans across party lines.
Over the years, Social Security has been modified (with bipartisan support) to expand benefits and keep the system financially sound. This year, Social Security has come under new threat from budget hawks in the Trump administration and on Capitol Hill. But as generations of Roosevelts have
shown us, Social Security is worth fighting for. On this, Social Security’s 82nd anniversary, we at the National Committee recommit ourselves to preserving this landmark program for current and future generations of Americans.
Today, Social Security provides basic financial security for some 61 million Americans. Two out of three seniors rely on Social Security for most of their income, and one-third of seniors depend on it for at least 90 percent of their income. It is one of the most efficient federal programs. Less than 1 percent of Social Security’s revenue goes to administrative costs — the rest, to beneficiaries.
Why, then, are some of our elected leaders not celebrating the anniversary of this extraordinary program that has kept seniors, the disabled, and their families out of poverty for more than eight decades?