To the Editor:
Why does Social Security matter to all of us, not only those in retirement?
Consider the multiplier effect. For every $1 paid in Social Security benefits, the economy adds $2. The combined spending of Social Security recipients supports 9 million jobs.
In 2012, $1.5 trillion was added to the total economic output by Social Security. Recipients spend their income in their communities on goods and services, such as in food services, real estate, health care and retail.
Poverty was avoided for 21.4 million of our neighbors, which included 1.1 million children, 14.5 million adults aged 65 or older, and 5.8 million adults under 65. A typical senior’s income is about $22,000, with Social Security accounting for about half of that.
The source is AARP Public Policy Institute. What is the source of what you think about Social Security?
We need a national conversation about Social Security, including its impact on seniors and on the economy. Protect your hard-earned benefits from cuts. Visit www.earnedasay.org