DATA & FIGURES
The trust fund for Social Security retirement benefits is projected to run out in just over six years, with only 78% of benefits payable if no action is taken. Raising the retirement age by two years would reduce the median retiree's monthly benefits by $345 to $741.
THE SCENARIO
The geopolitical and economic context surrounding Social Security reform is complex, with Republicans and Democrats having different opinions on how to address the issue.
DIRECT QUOTE
"Republicans have a history of attempting to increase the retirement age, privatize Social Security, or otherwise cut Social Security benefits, and some Congressional Republicans have called to raise the retirement age or means-test benefits as the ‘solution’ to this problem." — Sen. Elizabeth Warren, Senator, D-Mass.
BBN INSIGHT
The debate over Social Security reform highlights the challenges of addressing the program's funding issues while balancing the needs of different generations.