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Saturday, March 5, 2011

postheadericon Social Securityâs silent attackers

Without Social Security, nearly half of Americans age 65 and older would live in poverty. And yet, the very foundation of Social Security is under silent attack.

About 160 million Americans contribute to Social Security through payroll taxes. In New York State alone, Social Security provides over $42 billion in benefits each year to one in every six residents â€" over 3.1 million people. That is equivalent to 4 percent of the state’s annual GDP in Social Security benefits alone.

In the congressional district that I represent, Social Security benefits total $1.68 billion to over 128,000 people. Nearly one in five people â€" including senior citizens, disabled and children â€" rely on this vital program.

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