News: States in the Midwest and the South Are Most Vulnerable to Social Security Cuts

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News: States in the Midwest and the South Are Most Vulnerable to Social Security Cuts

Any disruption or cuts to Social Security benefits will hurt Americans who live in Southern and Midwestern states the most, according to a new report from the Economic Policy Institute. The report reinforced the importance of Social Security to the U.S. economy, with the benefits paid to 73 million Americans every month accounting for 10% of consumer spending.

Social Security benefits make up the largest percentage of income in states in these regions, particularly in West Virginia (16.5 percent), Mississippi (14.7 percent), Arkansas (13.9 percent), Alabama (13.4 percent), and South Carolina (13.3 percent). States with the lowest percentage of Social Security benefits as a share of income, on the other hand, were all in the Western or Eastern parts of the country: District of Columbia (3.3 percent), Colorado (7 percent), Alaska (7.1 percent), California (7.1 percent), and Utah (7.4 percent).

“This research proves once again how vital Social Security is. Retirees spend the Social Security benefits they earn and contribute to their local economy,” said Robert Roach, Jr., President of the Alliance. “We will make sure our elected officials know that any disruption to our benefits will hurt seniors as well as the businesses where we spend our money. Nothing is more important than making sure our guaranteed, earned benefits are protected.”