Metro Detroit—Today marks the 78th anniversary of Social Security, a program that has endured several wars and economic downturns and still provides every dollar of earned benefits on time and in full. On this occasion, the Michigan Alliance for Retired Americans released a report with Social Security Works and Strengthen Social Security outlining the significant impact on the people of Michigan and the economy. The report for our state can be accessed here: http://www.socialsecurityworks.org, by clicking on Michigan.
Social Security provides benefits to 2,061,941 Michiganders, that’s one in every 5 residents. It lifts 865,000 Michiganders out of poverty.
“Retirees in our area are struggling to get by, but they know how much worse things would be with any cuts to Social Security benefits. Thanks to Social Security, seniors are able to pay bills, buy groceries, and stay out of poverty,” said Dick Long, President Michigan Alliance of Retired Americans.
Despite the fact that Social Security does not contribute to the deficit and thus should not be included in deficit reduction negotiations, politicians in Washington continue to propose cuts to Social Security, including the chained CPI cut to cost of living adjustments. Instead of cutting benefits through the chained CPI, we should ensure that Social Security’s cost of living adjustments adequately reflect the living expenses of retirees. We can improve the long-term condition of the Social Security trust fund by requiring millionaires and billionaires to pay the same rate on taxes toward Social Security as the rest of us.
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