00:00The U.S. social security system is facing a growing crisis, leaving millions of American
00:05seniors struggling. A recent report reveals a striking truth. Despite the average social
00:11security check exceeding $2,000, a staggering 63% of retirees are dissatisfied with their benefits.
00:18Only a mere 10% expressed contentment. The Roots of Discontent
00:23This widespread frustration stems from a perfect storm of factors. Financial experts point to
00:29rapidly increasing costs that are eroding everyone's budgets, especially those on fixed
00:34incomes. Compounding this, the near disappearance of private sector pensions has left seniors
00:40increasingly reliant on social security. The numbers are stark. Nearly 73% of seniors depend
00:46on social security for more than half their income. And for 39%, it's their sole source
00:52of retirement funds. Eroding Purchasing Power
00:55The critical issue is the steady erosion of purchasing power. Since 2010, social security
01:01benefits have lost approximately 20% of their buying power. This decline is largely due to
01:06cost-of-living adjustments, or COLAs, which simply haven't kept pace with actual inflation.
01:13COLAs are designed to protect benefits from inflation, calculated using the Consumer Price Index for urban
01:19wage earners and clerical workers. For 2025, this resulted in a 2.5% increase. However, experts argue
01:28these adjustments often fail to reflect the true inflation seniors' experience. Housing and
01:33transportation costs in particular have surged faster than inflation over the past 15 years.
01:39Creating an especially difficult situation for seniors who rent or live in areas with limited
01:44walkability, a looming crisis. As a significant portion of a senior's budget goes towards these
01:50essential categories and their benefits fail to keep pace, dissatisfaction is inevitable.
01:56We are witnessing a scenario where more seniors are heavily relying on an income that is steadily
02:01losing its value against rising living costs. This combination points directly to a looming crisis
02:07for the financial stability and well-being of millions of older Americans. Addressing these structural
02:13issues is no longer a choice, but an urgent necessity. Money Exploitation
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