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  • Essay / Reform of the social security system - 873

    The social security system needs further reform; our current system was not designed for the age stratification we currently have. The Office of Policy of the U.S. Social Security Administration states: "The original Social Security Act, signed into law on August 14, 1935, grew out of the work of the Committee on Economic Security, a cabinet-level group appointed by President Franklin D. Roosevelt. just a year earlier. The law created several programs that still form the basis of the government's role in income security today, including old age insurance, unemployment insurance, and assistance to families with dependent children ( AFDC). Social Security was designed to help older citizens, but in the past, older people were not intended to live extended lives. The elderly population has grown significantly and relies on financial assistance from the government to survive economically. The failure to properly fund the social security system has resulted in a situation where there will not be enough funds distributed in the future; Government officials must create new social security policy reform. Social security is accessible to all working citizens; a large part of the younger generation may not be able to receive this assistance in the future. The social security system was not designed for today's age distribution. Due to differences in age stratification, the life expectancy of older generations has increased. In the past, many elderly people died at a young age. The New York Times says: “For the first time in more than a quarter century, Social Security ran a deficit in 2010: it spent $49 billion more on benefits than it received in revenue , and drew on his... .middle of paper ......raw, David and Dr. Allen Smith. “How was your Social Security money stolen?” Where did the $2.5 trillion surplus go? » AmpedStatus organization webpage. AmpedStatus Report, July 19, 2011. Web. May 7, 2013. DeWitt, Larry. “The Development of Social Security in America.” Social Security Administration webpage. United States Social Security Administration Office of Retirement and Disability Policy, February 19, 2010. Web. April 15, 2013 Hinden, Stan. “What changes in social security are coming in 2013? » AARP organization webpage. AARP Real Possibilities, October 23, 2012. Web. May 05, 2013. Kadlec, Dan. “Social Security takes more than it gives.” Time web page. Time Business and Money, August 7, 2012. Web. May 4, 2013. King, Gary and Samir S. Soneji. “Social Security: It's Worse Than You Think. » The New York Times web page. The New York Times News, January 5, 2013. Web. May 3 2013.