A new report from the Committee for a Responsible Federal Budget found that more than one in five Michigan residents could see their Social Security benefits reduced by 2032 if Congress fails to address the program’s looming insolvency.
Local Impact
The report estimates that 19.8% of Michigan’s population – or more than 2 million Michiganders – would be directly affected by the reductions. Retirees in Michigan could see average monthly benefits reduced by $523, the ninth-largest projected cut among all states.
Eight Michigan counties are among the nation’s 20 counties most dependent on Social Security income, with Montmorency County ranking first in the nation. Social Security benefits account for 18.6% of all personal income earned in the county.
Other Michigan counties appearing in the top 20 included Roscommon, Alcona, Ontonagon, Presque Isle, Oscoda, Lake, and Ogemaw counties. The report highlights the potential impacts of cuts to Social Security, particularly in areas where the program is a critical source of income for retirees and an important economic driver.
Original reporting: KTBS 3 (Shreveport) — read the source article.
