Between 1960 and 1995,Social Security benefits:

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Social Security benefits increased during this period, which helped to reduce the poverty rate among the elderly. This is because Social Security provides a guaranteed income stream to retirees, helping to supplement their retirement savings or other sources of income, and lift many out of poverty. In fact, Social Security benefits are the single most important source of income for elderly Americans, providing them with a measure of financial security and stability throughout their retirement years.

Between 1960 and 1995,Social Security Benefits