Americans agree on Social Security, but their faith is waning
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A growing share of Americans say that Social Security is one of the most important government programs, per new AARP polling.
Why it matters: Americans are divided on most of what the U.S. government does, but they consistently agree on Social Security even across party lines — a big reason why it's considered the "third rail" of U.S. politics.
- About 69 million Americans, about 1 in 5, receive Social Security benefits.
By the numbers: 74% of Americans say Social Security is one of the most important government programs. That's up from 65% in 2005.
- Another 22% say it's important, but not one of the most important.
Yes, but: Confidence in Social Security is low and eroding.
- Only 36% of those surveyed this year said they were very or somewhat confident in the program's future — down from 43% just five years ago.
- The decrease was driven primarily by younger Americans, who are less familiar with the program.
The big picture: The Social Security trust fund is on track to run out of money in nine years, triggering a benefit cut, per a report from its trustees out last month.
- That's a year earlier than expected due to a bipartisan law, signed by former President Joe Biden, that increased payments to some retirees.
Between the lines: Congress will likely wait till the last minute to do something.
- "The last time Social Security ran out of money, which was in 1983, they dealt with solvency just a couple of months before the final date," Bill Sweeney, AARPs senior vice president of government affairs, said Tuesday.
- "I find it hard to believe that members of Congress will go home to their constituents after letting their benefits get cut by 20%."
The fine print: AARP conducted this survey of 3,599 adults in June with NORC at the University of Chicago. There's a 2 percentage point margin of error.
