For 81 years, Social Security has provided an economic lifeline to average Americans. Without this vital program 41 percent of elderly Americans would live in poverty but with Social Security, only 10 percent of seniors are below the poverty line. Of course, Social Security serves more than just retirees. People with disabilities, survivors, spouses and children also depend on the benefits earned through the program.
American understand, first hand, how important Social Security is to their own economic security; however, Social Security’s economic contributions to communities, counties, and states continue to be misunderstood and often ignored in Washington’s fiscal debates.
In 2014 alone, Social Security delivered a $1.6 trillion fiscal boost nationwide as benefits were spent and cycled through the economy. A new online report by the National Committee to Preserve Social Security and Medicare Foundation provides a detailed look at the significant economic impact generated by Social Security benefits. Social Security Spotlight delivers data on beneficiaries by state, county, Congressional district, race/ethnicity, age and gender.