Social Security Social Security Social Security Social Security

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HistoryHistoryHistoryHistory

The idea of a national economic security program originated in early Europe.

The idea was a solution proposed by FDR as part of his New Deal to help solve the nation’s economic crisis during the Great Depression.

It was an attempt to boost the nation’s morale by providing a sense of stability, but it only provided the minimal level of assistance to eligible social security applicants.

The idea of a national economic security program originated in early Europe.

The idea was a solution proposed by FDR as part of his New Deal to help solve the nation’s economic crisis during the Great Depression.

It was an attempt to boost the nation’s morale by providing a sense of stability, but it only provided the minimal level of assistance to eligible social security applicants.

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ImpactImpactImpactImpact

The Social Security Act had 3 parts to it:

1. Medicare (Part A and B)

2. Public assistance

3. Child welfare

The Social Security Act had 3 parts to it:

1. Medicare (Part A and B)

2. Public assistance

3. Child welfare

Major Components Major Components Major Components Major Components

Social Security appropriated monthly funds to help senior citizens, those who are unemployed, and the disabled.

Medicare was designed to help senior citizens or disabled citizens with medical insurance.

Designed to be a self-sustaining program, with a ratio of 25 working citizens to 1 retired beneficiary. But due to exponential population growth and retirement of baby boomers, the ratio turned out to be around 2 to 1.

Social Security appropriated monthly funds to help senior citizens, those who are unemployed, and the disabled.

Medicare was designed to help senior citizens or disabled citizens with medical insurance.

Designed to be a self-sustaining program, with a ratio of 25 working citizens to 1 retired beneficiary. But due to exponential population growth and retirement of baby boomers, the ratio turned out to be around 2 to 1.

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Some additions have been made to the Social Security Act since it was made in 1934 such as Medicare, which was passed by President Truman during his term in 1965.

Other additions include:

Welfare amendments during 1962 by Kennedy

Disability amendments during 1984 by Reagan

Welfare Reforms during 1996 by Clinton

Some additions have been made to the Social Security Act since it was made in 1934 such as Medicare, which was passed by President Truman during his term in 1965.

Other additions include:

Welfare amendments during 1962 by Kennedy

Disability amendments during 1984 by Reagan

Welfare Reforms during 1996 by Clinton

Current StatusCurrent StatusCurrent StatusCurrent Status

Current PolicyCurrent PolicyCurrent PolicyCurrent Policy

The current functioning policy of the Social Security Act is attracting debates regarding how it will be funded when baby boomers retire.

There is also controversy regarding the government using the funds set aside for Social Security meaning the already insufficient amount is only getting smaller.

Funded by payroll taxes on employees and employers.

Largest social policy of the federal government and accounts for one third of the federal budget.

The current functioning policy of the Social Security Act is attracting debates regarding how it will be funded when baby boomers retire.

There is also controversy regarding the government using the funds set aside for Social Security meaning the already insufficient amount is only getting smaller.

Funded by payroll taxes on employees and employers.

Largest social policy of the federal government and accounts for one third of the federal budget.

SourcesSourcesSourcesSources

http://www.ssa.gov/history

http://dissidentvoice.org/

Edwards book

http://www.ssa.gov/history

http://dissidentvoice.org/

Edwards book