AARP: Social Security generates $3 billion in Vt. - WCAX.COM Local Vermont News, Weather and Sports-

AARP: Social Security generates $3 billion in Vt.

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MONTPELIER, Vt. (AP) - The advocacy group AARP is estimating that Social Security generates nearly $3 billion a year in economic activity in Vermont.

AARP says the national figure is about $1.4 trillion in economic activity triggered by the federal program that provides payments to retirees and the disabled.

In Vermont, $1.83 billion in direct spending on Social Security in 2012 was estimated to have resulted in spending by Vermont recipients in the state's economy of money that was spent again when business spend their profits and pay their employees.

AARP is using the data in its efforts to resist calls from some in Congress for reduced Social Security payments.

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