Americans may have diverging views on endless numbers of policy issues but, when it comes to Social Security, we are overwhelmingly united. A new AARP poll reveals that Social Security is popular among people young and old, Republicans and Democrats. Indeed eight out of ten people surveyed said that they plan to rely on Social Security in retirement either somewhat or in a substantial way. And even more of them, 82 percent, felt it is important to contribute to Social Security “for the common good.”
Indeed two out of three people surveyed said that Social Security is one of the most important federal programs. Of particular note, nine out of ten young adults under 30 said that Social Security is an important government program.
Today, millions of Americans face challenges saving for retirement. Of those polled, 69 percent said that current financial needs make it difficult for them to save. Almost half of those polled, 47 percent, said that they had no money left over after paying their bills. And 39 percent said that medical bills prevented them from saving.
Almost seven in ten of those polled, 69 percent, worry that they won’t have enough savings in retirement. And 68 percent worry that health care costs will wipe out their savings. It’s not surprising that a vast majority of adults say they want to expand Social Security or keep it as strong as it is.
For this poll, 1200 adults were surveyed, 483 of whom were retired.
Robert Reich explains in this video that we can afford to expand Social Security. Find out here what your Social Security benefits will be when you retire.