Thanks to the Center on Budget and Policy Priorities for a terrific breakdown of the Top 10 Facts about Social Security. As we celebrate the program’s 80 successful years serving millions of American families this week, it’s important to remember why Social Security is so vital to our nation.
Fact #1:
Social Security is more than just a retirement program. It provides important life insurance and disability insurance protection as well.
Fact #2:
Social Security provides a guaranteed, progressive benefit that keeps up with increases in the cost of living.
Fact #3:
Social Security provides a foundation of retirement protection for nearly every American, and its benefits are not means-tested.
Fact #4:
Social Security benefits are modest.
Fact #5:
Children have an important stake in Social Security.
Fact #6:
Close to half of the elderly would be poor without Social Security. Social Security lifts nearly 15 million elderly Americans out of poverty.
Fact #7:
Most elderly beneficiaries rely on Social Security for the majority of their income.
Fact #8:
Social Security is particularly important for minorities.
Fact #9:
Social Security is especially beneficial for women.
Fact #10:
Relatively modest changes would place Social Security on a sound financial footing for 75 years and beyond.
Please check out the full CBPP fact sheet here.
You can also test you Social Security IQ on our 80th Anniversary Online Crossword puzzle.
