23 August 2010

Texas: Social Security Works For You!

Social Security brings nearly $39-billion to the Texas economy each year.  Those dollars "turn over" several times after being spent for health care, lodging, food, transportation and other of life's necessities.  They lift from poverty over 1.3-million Texans and provide income to nearly 1/2-million disabled workers, nearly 300-thousand children, 3.25-million widows & widowers and almost 2-million retired workers.

As that $39-billion (equivalent to 3% of the state's annual GDP) works its way through our economy; businesses, small and large, are able to grow and and provide employment to other Texas.

As these figures demonstrate, Social Security is an extremely effective and beneficial family insurance protection for Texans against lost wages due to old age, disability, or death.  Simply put:  It is impossible to overstate the importance of Social Security's earned protections.  However, we find ourselves here in Texas with too many rabidly-radical, right-wing politicians of the type that would have us apologize to BP for its disastrous oil spill and hand Social Security over the the cut-purses, liars, thieves, and mendicants of Wall Street.

They ignore the truth that Social Security has not caused the federal deficit, and that the program enjoys a $2.6-trillion surplus today which is projected to become $4.3-trillion by 2023.   Middle-aged and young workers will find that Social Security must be a mainstay against poverty as they become older after watching their housing equities, retirement savings and 401k investments being ravaged by what is now called "The Great Recession".  The attempts to deprive them of FULL Social Security benefits by Republicans and Blue-Dog Democrats and their arch-conservative fellow travelors  is both unbelievable and unconscionab

Social Security is not a welfare program breaking our financial backs and causing our fiscal deficit.  Social Security is paid for through dedicated taxes contributed by workers and their employers into a trust fund.  This makes Social Security a promise---a bond between generations that belongs to the people who have worked hard all their lives and their families!

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