Wednesday, September 9, 2026 | Edition 194 | Item #2

At least that is what humans are thinking, according to a new survey from the National Institute on Retirement Security. The research finds that 80 percent of Americans say the nation faces a retirement crisis, up sharply from 67 percent in 2020. Perhaps even more tellingly, the percentage of Americans who strongly agree with the statement that the country is facing a retirement crisis has jumped from 30 percent five years ago to 41 percent today. .

Americans also want policymakers to pay greater attention to the issue. Eighty-four percent say leaders in Washington do not understand the retirement savings challenges facing Americans, while 85 percent say policymakers should make retirement security a higher national priority, up from 76 percent in 2020.

Given the feisty mood of Americans, it’s not too surprising that Congress is starting to accelerate its efforts to address the coming shortfall in Social Security. Yesterday, the Washington Post reported that the idea of increasing the payroll tax cap has started to gain some traction with Republicans. Republicans have long been resistant to any form of tax hike, but the Post is reporting that some key Republicans are now open to raising the payroll tax cap on contributions to Social Security, which could be thought of as a tax increase on higher earners.