Social Security helped slash elderly poverty to 9.2 percent in the 20th century – that triumph is now in jeopardy
- Written by David W. Rasmussen, James H. Gapinski Professor of Economics, Florida State University
More elderly people may soon be pinching pennies.docent/Shutterstock.com
In 1959, more than a third of all elderly Americans lived in poverty. Slashing that number to under 10 percent by the late 1990s was among the great U.S. triumphs of the 20th century. Social Security deserves a large share of the credit.
I believe eliminating old-age poverty...