Social Security Changes Could Drastically Hurt Maine

That's the word from the BDN today:

Maine could be hit hard economically if the current Social Security program were changed, experts say. Maine's seniors rely more heavily on their monthly Social Security benefits than all but three other states in the nation, according to a study by the Economic Policy Institute and the Economic Analysis and Research Network. The study also shows that the median elderly household in the state relies on that monthly check for 74 percent of its income.

The statistics illustrate how much Mainers in particular would be affected if Congress approves President Bush's plans to create individual investment accounts for Social Security beneficiaries.

The article also gives a rundown of our federal representatives on this issue. All but Collins have sworn off privatization.

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