Despite looming funding issues, most Americans remain confident in Social Security. A new Cato Institute survey found that 83% of adults view the program favorably, including 90% of Democrats, 82% of Republicans and 81% of independents. In addition, 82% of workers expect Social Security to provide at least part of their retirement income.
Yet this optimism doesn’t reflect what the program’s financial projections show. Many Americans misunderstand just how underfunded Social Security is — and what that could mean for future benefits.
