Poverty and Social Security

Posted: 16 November 2012 in Uncategorized
Tags: , ,

The next time some ignoramus steps forward to suggest that we need to cut Social Security in order to balance the fiscal budget, just tell them two things:

First, as I’ve shown before, there is no Social Security crisis.

Second, as the new poverty numbers from the Census Bureau [pdf] show, without Social Security benefits, the Supplemental Poverty Measure rate would have been 24.4 percent rather than 16.1 percent. For those 65 or older, Social Security benefits lowered poverty rates by a whopping 39 percentage points—from 54.1 percent to 15.1 percent.

Clearly, the poverty rates in the United States remain much too high. But without Social Security benefits, those rates would be much, much higher.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s