Chart of the Day: Social Security Is More Important Than Most People Think


EBRI’s annual Retirement Confidence Survey is out, and you can find it here if you want to read the whole thing. In a nutshell, retirement confidence dropped sharply in 2008 when the Great Recession started, and finally started to increase a bit this year for the first time since then. Nonetheless, the number of people who are confident they have enough to retire on is still around 55 percent, way below the 70 percent who felt this way during the 90s and aughts.

There are plenty of interesting facts and figures about retirement in the report, and I’ve excerpted an interesting pair of charts about worker expectations of Social Security below. These numbers have bounced around a bit over the years, but generally speaking, only about a third of active workers think Social Security will be a major part of their retirement. In reality, about two-thirds of actual retirees report that Social Security is a major part of their income. Keep that in mind the next time you hear someone blithely talking about cutting Social Security benefits, especially among low-income workers.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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