New Priorities are Needed When We 'Save' Social Security

Saving Social Security usually means maintaining current benefits that will be cut by about 20 percent in 2035 if taxes dedicated to the program are not increased. Almost one-third of households 65 and older get more than 75 percent of their income from Social Security. This essay argues that the rapid rise in low wage service jobs, reduced availability of defined benefit retirement plans, the decline in marriage, and the fact that 40 percent of births are to unwed mothers are harbingers of increasing financial vulnerability among people 65 and older. Congressional initiatives to protect retirees have not adequately focused on this issue. Social Security reform should increase benefits to retiring workers with a long history of low wage employment. These individuals spent a lifetime of playing by the rules and deserve to end life with dignity