Only one in 10 seniors is poor today, thanks in large part to Social Security. According to a study by the Center on Budget and Policy Priorities, about half of all senior citizens would be poor if it were not for Social Security. But meanwhile, a large group of our youngest citizens are growing up in severe economic distress. Recent scientific studies have confirmed that poverty, especially extreme poverty early in childhood, has a very detrimental impact on children's health and development. Children who grow up poor are more likely to have a host of problems relating to their health, school-readiness and achievement, and employability as adults.
Child poverty is public health enemy number one.
Investing a portion of the projected surplus in support of public and private sector strategies to reduce child poverty could have a dramatic effect on the well-being of the newest generation of Americans. The EITC alone has lifted millions of children above the poverty line and could be expanded even further to greater effect. Investing in children today would be an example of both compassion and enlightened self-interest. Research tells us that if we can help more children out of poverty today, we will have a more productive future work force. They are the work force of tomorrow and a big part of our future social security.