Social Security Impact On The Economy Essay

1447 Words Nov 8th, 2014 null Page
Tran 1 Social Security’s Impact
Have you ever needed a helping hand whether it was emotionally, physically, or financially? That is one of the things that Social Security has done for people. It helps people financially by providing them a stream of income they had lost due to retirement, disability, or death. It helps them live a much easier life and provides an feeling of economic security. Social security impacts the economy positively by giving back to businesses and helping the economy grow. Social Security has a great effect on its benefiters. It is one of the largest programs that pays billions of dollars per year to people that are eligible. In 2012, they paid about $774,6 billion to the people. (“S.S’s Impact on the N.E”) It is a social program that benefits a lot of people. It provides them with money that they need. About 1 out 6 Americans-57 million people receive Social Security benefits ("Social Security 's Impact on the National Economy”). This program helps them to survive and stay out of poverty.

Tran 2 The economy is impacted when payments are received (“Social Security’s Impact”). Since people now have money in their pockets, they are able to spend.Many who have low-income usually receive monthly payments.The more money they have, the more spending they do. An important factor in the economy is the money that they have. They are most likely to spend in their local area and that creates economic growth.There is a…

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