An overwhelming majority of voters think that changes need to be enacted as soon as possible to maintain the viability of Social Security and Medicare, according to a new survey.

A new poll released Wednesday by the Taxpayers Protection Alliance, a nonprofit advocacy group that generally prefers a smaller government and provides research and analysis on tax and spending policy, shows that 87% of likely voters believe that lawmakers should start working immediately on changes to extend the life of Social Security and avoid cuts to benefits. Meanwhile, 89% said changes should be made as soon as possible to ensure the solvency of Medicare.

JOB OPENINGS UNEXPECTEDLY ROSE IN SEPTEMBER AMID HIGH INTEREST RATES

Prior to the responses, those surveyed were informed of the estimated timelines for when each entitlement program would face automatic spending cuts without changes — in Social Security’s case, that cut is estimated to come in 2035, and the Medicare Hospital Trust Fund is expected to be exhausted between 2028 and 2031.

“Our polling shows that Americans are seriously worried about the solvency of these entitlement programs,” said TPA President David Williams. “Congress can no longer continue to ignore the facts that without action, Social Security and Medicare will face deep and automatic cuts.”

“Proactive steps must be taken to reform these fiscally unsound programs or Americans will be faced with the consequences of their representatives’ blatant disregard for the uncomfortable truth,” he added.

Additionally, the survey found that 90% of voters think that the 2024 presidential and congressional candidates should discuss the financial challenges facing Social Security and Medicare and explain their proposals to ensure the popular programs remain solvent.

While all ages want to see the candidates address the issue, the relative urgency to safeguard Social Security and Medicare is clearly stratified by generation.

For instance, just 33% of the youngest voters in the Generation Z cohort, those aged 18 to 26, said they “strongly” agreed that the candidates should address their plans for Social Security compared to 75% of baby boomers and the Silent Generation, who are over the age of 59.

Raising the retirement age is one solution that has been discussed as a means of shoring up Social Security. Currently, early Social Security eligibility is at age 62, with the full retirement age set at 67 for those born after 1960.

But the polling shows that voters have little appetite for increasing the retirement age.

Nearly 60% of likely voters said that raising the retirement age by a few years to access full Social Security benefits is either totally or mostly unacceptable. A mere 9% said doing so would be totally acceptable.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

Rather, voters prefer other fixes. More than 70% said limiting benefits for higher income and wealthier beneficiaries would be amenable, while 6 in 10 said that keeping Social Security afloat by cutting spending on other federal programs would be acceptable.

“This poll is a fiscal wake-up call to Congress and all presidential candidates,” Williams said.