Social Security: A powerful economic force

Among those of us who receive a monthly Social Security benefit the Social Security program is priceless. But Social Security is often portrayed as a drain on the nation’s economy by many in the main stream corporate media. They say our self funded, but government mandated, retirement program is a budget buster.

Recently, the National Committee to Preserve Social Security and Medicare (https://www.ncpssm.org ) looked at Social Security from a different perspective. Social Security, they discovered, is a powerful economic driver.

The Committee’s state by state analysis showed that there are 965,018 Social Security beneficiaries in Minnesota. Those nearly one million beneficiaries contribute $15 billion annually to the State’s economy. The Committee took their analysis to the level of the Congressional District. Minnesota’s CD7 has 149,594 recipients whose monthly payments pump $2 billion annually into the district.

“Social Security provides a lifeline to beneficiaries, their families, and the local businesses which serve them. While some in Washington claim America can’t afford programs like Social Security and Medicare, the truth is states like Minnesota can’t afford to lose the economic benefits they provide to every community in the state,” the Committee writes.

Keep that in mind the next time you hear somebody bashing Social Security.

Tim

Central Minnesota Political

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