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SS Statistics for the Gem State

PHOTO: AARP Idaho State Director Mark Estess says a new report on what Social Security means for Idaho's economy underscores AARP's mission to "...continue to work hard to strengthen the program through responsible solutions, not harmful cuts." Photo courtesy of AARP.
PHOTO: AARP Idaho State Director Mark Estess says a new report on what Social Security means for Idaho's economy underscores AARP's mission to "...continue to work hard to strengthen the program through responsible solutions, not harmful cuts." Photo courtesy of AARP.
October 2, 2013

BOISE, Idaho - Social Security benefits are worth nearly double once they travel through the economy in Idaho, according to a new "follow the money" report.

Every Social Security dollar grows in value when it is spent locally on goods and services, the AARP report found, with each $1 benefiting the economy by $1.76. AARP Idaho State Director Mark Estess said the report shows that the monthly payments keep thousands of Idahoans out of poverty.

"It also underscores the important, positive and direct economic impact the program has on the state's economy and its future prosperity," he said.

The report calculated that $3.8 billion in benefits coming to the Gem State are worth $6.5 billion in economic output.

Another ripple effect to consider, Estess said, is that the associated local and state tax revenues added up to about $350 million last year.

"We will continue to work hard to strengthen the program through responsible solutions, not harmful cuts, to a program that so many hard-working, responsible Idahoans count on," Estess said.

Most Idahoans receiving Social Security are retired. Others who receive benefits are widows, children and people with disabilities.

Deborah Courson Smith/Deb Courson Smith, Public News Service - ID