Here's why Social Security needs to be
front and center in the 2016 campaign and why Democrats need to embrace the idea of not just protecting Social Security but expanding it. It's from Gallup and it's
sobering.
Although the Social Security program continues to face long-term funding challenges, U.S. nonretirees are more likely to say Social Security will be a major source of income in their retirement than they have been at any point in the last 15 years. The current 36% of nonretirees expecting to heavily rely on Social Security is roughly 10 percentage points higher than a decade ago.
.
In addition to the 36 percent who say they will have to rely primarily on Social Security, 48 percent say it will be a minor but necessary source. But then there's the reality of
actual rather than future retirement: "This year, 59% of retirees say Social Security is a major income source for them. Though the percentage has varied in any given year, a majority have said this each time Gallup has asked the question."
What does it mean to say Social Security is the primary income source for the majority of retirees? It means those retirees are living at about 30 percent over the poverty level. The average benefit for retired workers, disabled workers, and aged widows and widowers on Social Security in December 2014 was $1,300 a month, or $15,500 a year. That's not very much, and that's why the discussion has to shift from cutting Social Security to expanding it. The big demographic shift we're facing with more babyboomers retiring makes it even more critical. As a nation, we can't morally or economically afford to have that whole segment of our population living in near-poverty.