$1.6
TRILLION
A project of:
About the Report
Social Security is our nation’s bedrock social insurance program. It protects American workers, their families and their children against the risks of poverty as a result of old age, death of a spouse or parent, or a life-changing disability. At a time of escalating inequality and declining retirement savings, the National Committee Foundation examines Social Security’s crucial and often neglected role in the economic life of communities in every state.
Research conducted by:
Peter S. Arno, PhD
Senior Fellow and Director, Health Policy Research, Political Economy Research Institute, University of Massachusetts, Amherst. Board member, National Committee to Preserve Social Security and Medicare Foundation
Andrew R. Maroko, PhD
Assistant Professor, City University of New York Graduate School of Public Health and Health Policy
NOTE:
This report uses 2014 data, unless specifically indicated otherwise. Due to rounding some totals may not correspond to the sum of the separate figures.
ECONOMIC IMPACT
In 2014, Social Security contributed $1.6 trillion nationally as benefits are spent and generate additional economic activity in every state.
Social Security has an economic stimulus effect—and acts as an automatic economic stabilizer because benefits are received even during economic downturns.
Social Security as Economic Stimulus
As Social Security benefits are spent and cycle through the economy there is a cumulative impact, which increases aggregate economic activity as recipients spend their benefit dollars on goods and services (multiplier effect). The total economic output listed below is the product of Social Security benefits adjusted for federal and state taxes and the economic multiplier for each state.
| No. | State | Total Social Security Benefits (Dollars) |
Tax Adjustment Factor | Economic Multiplier | Total Economic Output (Billions) |
|---|---|---|---|---|---|
| *All numbers in this report are rounded to make the data more accessible. | |||||
| 1 | California | $80,412,324,000 | 0.93 | 2.21 | $165.9 |
| 2 | Florida | $62,291,340,000 | 0.94 | 2.1 | $122.5 |
| 3 | Texas | $54,031,728,000 | 0.94 | 2.12 | $108.0 |
| 4 | New York | $53,062,296,000 | 0.93 | 1.93 | $95.3 |
| 5 | Pennsylvania | $41,193,096,000 | 0.94 | 1.99 | $77.2 |
| 6 | Illinois | $32,485,392,000 | 0.94 | 2.09 | $63.7 |
| 7 | Michigan | $32,838,156,000 | 0.94 | 1.93 | $59.8 |
| 8 | Ohio | $32,711,028,000 | 0.95 | 1.8 | $55.9 |
| 9 | North Carolina | $28,509,000,000 | 0.95 | 1.89 | $50.9 |
| 10 | New Jersey | $25,617,684,000 | 0.92 | 1.93 | $45.7 |
| 11 | Georgia | $24,073,020,000 | 0.95 | 1.98 | $45.1 |
| 12 | Tennessee | $19,601,880,000 | 0.95 | 1.96 | $36.6 |
| 13 | Virginia | $21,105,540,000 | 0.93 | 1.81 | $35.6 |
| 14 | Washington | $18,867,888,000 | 0.93 | 1.98 | $34.7 |
| 15 | Arizona | $18,211,164,000 | 0.94 | 2 | $34.2 |
| 16 | Massachusetts | $18,208,620,000 | 0.94 | 1.98 | $33.7 |
| 17 | Indiana | $19,521,948,000 | 0.95 | 1.82 | $33.7 |
| 18 | Missouri | $17,850,120,000 | 0.94 | 1.94 | $32.7 |
| 19 | Wisconsin | $17,454,792,000 | 0.94 | 1.91 | $31.3 |
| 20 | Minnesota | $14,649,612,000 | 0.91 | 2.08 | $27.8 |
| 21 | South Carolina | $15,270,204,000 | 0.95 | 1.76 | $25.4 |
| 22 | Alabama | $15,314,676,000 | 0.95 | 1.73 | $25.3 |
| 23 | Maryland | $14,437,272,000 | 0.93 | 1.88 | $25.1 |
| 24 | Colorado | $11,733,624,000 | 0.93 | 2.06 | $22.4 |
| 25 | Kentucky | $12,979,704,000 | 0.96 | 1.76 | $21.9 |
| 26 | Oregon | $11,886,720,000 | 0.94 | 1.93 | $21.5 |
| 27 | Louisiana | $11,334,288,000 | 0.95 | 1.81 | $19.6 |
| 28 | Oklahoma | $10,530,276,000 | 0.95 | 1.84 | $18.4 |
| 29 | Connecticut | $10,631,796,000 | 0.92 | 1.83 | $18.0 |
| 30 | Iowa | $9,098,028,000 | 0.93 | 1.74 | $14.8 |
| 31 | Arkansas | $9,132,432,000 | 0.95 | 1.7 | $14.8 |
| 32 | Mississippi | $8,579,544,000 | 0.96 | 1.68 | $13.8 |
| 33 | Kansas | $7,842,828,000 | 0.93 | 1.82 | $13.2 |
| 34 | Nevada | $7,059,816,000 | 0.94 | 1.75 | $11.6 |
| 35 | Utah | $5,398,836,000 | 0.92 | 2.07 | $10.2 |
| 36 | West Virginia | $6,535,308,000 | 0.95 | 1.61 | $10.0 |
| 37 | New Mexico | $5,441,784,000 | 0.92 | 1.71 | $8.6 |
| 38 | Nebraska | $4,774,164,000 | 0.92 | 1.8 | $7.9 |
| 39 | Maine | $4,424,184,000 | 0.95 | 1.82 | $7.7 |
| 40 | New Hampshire | $4,360,092,000 | 0.94 | 1.84 | $7.5 |
| 41 | Idaho | $4,383,096,000 | 0.95 | 1.79 | $7.4 |
| 42 | Hawaii | $3,729,996,000 | 0.92 | 1.87 | $6.4 |
| 43 | Rhode Island | $3,198,492,000 | 0.92 | 1.86 | $5.5 |
| 44 | Montana | $2,983,980,000 | 0.93 | 1.83 | $5.1 |
| 45 | Delaware | $3,052,488,000 | 0.93 | 1.81 | $5.1 |
| 46 | South Dakota | $2,306,880,000 | 0.93 | 1.78 | $3.8 |
| 47 | Vermont | $2,050,356,000 | 0.92 | 1.77 | $3.3 |
| 48 | North Dakota | $1,736,736,000 | 0.92 | 1.67 | $2.7 |
| 49 | Wyoming | $1,512,720,000 | 0.93 | 1.55 | $2.2 |
| 50 | Alaska | $1,237,596,000 | 0.92 | 1.72 | $2.0 |
| 51 | District of Columbia | $1,079,844,000 | 0.93 | 1.58 | $1.6 |
| - | USA | $846,734,388,000 | - | - | $1.6 Trillion Dollars |
A project of:
About the Report
Social Security is our nation’s bedrock social insurance program. It protects American workers, their families and their children against the risks of poverty as a result of old age, death of a spouse or parent, or a life-changing disability. At a time of escalating inequality and declining retirement savings, the National Committee Foundation examines Social Security’s crucial and often neglected role in the economic life of communities in every state.
Research conducted by:
Peter S. Arno, PhD
Senior Fellow and Director, Health Policy Research, Political Economy Research Institute, University of Massachusetts, Amherst. Board member, National Committee to Preserve Social Security and Medicare Foundation
Andrew R. Maroko, PhD
Assistant Professor, City University of New York Graduate School of Public Health and Health Policy
NOTE:
This report uses 2014 data, unless specifically indicated otherwise. Due to rounding some totals may not correspond to the sum of the separate figures.
