Maya Rockeymoore, president of the Center for Global Policy Solutions, recently  presented before the Senate Finance Committee and Subcommittee on Social Security, Pensions, and Family Policy.
In Rockeymoore’s statement, she talks about why Social Security is so important. Â Rockeymoore states that some people believe Social Security investments in retirees have taken away from investments in young children.
However, she says this is far from the truth. She goes on to say that Social Security is beneficial because it serves all people at all stages in their lives.
In fact, Rockeymoore notes that more than 4.4 million children are recipients of Social Security benefits due to their status as dependents of deceased, disabled, and retired workers.
Says Rockeymoore: “… what we should all understand is that today’s young will become tomorrow’s old. And, given what we know about the material weaknesses in our economy, the structural inefficiencies in our labor market, the deficiencies of employer-sponsored retirement options, and the likely socioeconomic effects of projected demographic changes, our children will need Social Security for their own retirement a much, if not more so, than their parents did.â€
Read on for Maya Rockeymoore’s full statement.