The report highlights that the growing reliance on government assistance reflects a significant shift in the economic landscape, driven by an aging population and rising healthcare costs.
In 2022, government transfers from programs like Social Security represented 18% of total personal income, a notable increase from 9% in 1970, underpinning the economic struggles of many Americans.
Many retirees now rely solely on Social Security for their income and are struggling financially, reflecting the pressing need for adequate government support amidst escalating costs.
'I just want to know that I can have food when I need it and a nice roof over my head,' expresses the desire for security among those dependent on Social Security income.
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