Social Security

In 1934 President Franklin Roosevelt came before Congress with his cast for a favorable auspices platform. President Roosevelt explained his vision for a aim that would house for the older times. This program was organized to render a system of economic surety to the retired workers. Working adults would work to their alter retirement through Social security de discussion sectionment taxes. For much of the consequently(prenominal) 30 years, Social Security has run big surpluses, which the giving medical specialty has borrowed to spend on other programs. Now that Social Security is running deficits, the federal government will have to honorarium off money elsewhere to help pay for retirement, deterioration and survivor benefits. In the short term, Social Security is ugly from a weak economy that has payroll taxes lagging and applications for benefits rising. In the desire term, Social Security will be strained by the growing number of baby boomers retiring and appl ying for benefits. The deficits add a sense of urgency to improve Social Securitys finances. To pay Social Security, the government will have to raise the marginal fester again, reduce benefits, raise taxes or turn the stock certificate into a privatized fund.

If drastic changes are not made before long to provide Social Security with more(prenominal) financial militia then this benefit will be nothing more than a distant memory by the time the baby-boomer generation of advance to collect it. Social Security was officially write into im regioniality in 135 during the great depression as part of President Franklins new consider plan. The new get! along was a series of economic plans that were intended to stimulate the economy. It decoct on relief, recovery and reform for the country. Social Security was an travail to protect the citizens of the country from the poverty that can occur as a result of old age, disability or the battle of a spouse. Although the act was signed in 1If you want to hire a full essay, order it on our website: OrderCustomPaper.com

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