Experts discuss the impact of the Trump Administration's plans on Social Security and retirement.
Social Security has a significant impact, lifting 22 million Americans out of poverty each year, according to the Center on Budget and Policy Priorities.
“Social Security is a bedrock of this nation,”
says Frank Garcia, a registered Social Security analyst. He notes that the program faces a "silver tsunami" as many Americans reach retirement age, putting pressure on the program.
The retirement trust fund is expected to run dry by 2033 under current estimates.
Author's summary: Experts weigh in on Social Security's future.