Saturday, August 14, 2010

Happy Birthday, Social Security!

Social Security celebrates its 75th birthday on August 14th. At age 75, life expectancy is about 12 years according to CDC. What does that mean for Social Security? Here are the facts:
  • Social Security benefits represent about 40% of the income of our seniors
  • Among those who receive benefits, 52% of married couples and 72% of single beneficiaries rely on Social Security for at least 50% of their total income
  • And 20% of those married couples and 41% of single persons rely on benefits for at least 90% of their income
  • Social Security is not limited to seniors -- it also provides a safety net for disabled persons, which is essential since 69% of the private workforce does not have long-term disability insurance 
Having worked in health care my entire life, I have spent lots of time with people whose whole lives depend on that monthly check. Talk of choosing between heat, food and medications is not just cliche -- it is reality for too many Americans and too many people right here in Connecticut.

Privatize Social Security? What a joke -- perpetrated by the same folks who embrace deregulation and the Wild West on Wall Street. Remember when you vote in November that the future of this critical program could hang in the balance. We need to make sure that 12 year life expectancy doesn't apply to Social Security as well.  

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