Essay about The Issue Of Social Security

Essay about The Issue Of Social Security

Length: 1504 words (4.3 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

There are a few major current concerns that was brought about the future “solvency” of Social Security. People are scared because of the projections of the trust fund will being depleted by 2040. This means that there will be a scare amount of income going in to the trust fund; as a result, people will not be able to receive the full amount of benefits that they were promised (Quadagno: 349). One reason they are scared is because that the Baby Boom generation is aging (Quadagno: 334). The Baby Boom generation make up the majority of the population and have the most influence on what is happening in the United States. In fifteen to twenty years, they will be receiving Social Security; as a result, there will only be on average 2.2 working people to pay for 1 retiree (Quadagno: 334). This is a dramatic difference compare to 1960 where it was on average 5 workers paying for 1 retiree (Quadagno: 334). This bring up the next major concern which is that the population growth has slowed significantly after 1960 because women were having fewer children (Quadagno: 334). The slowed growth is a factor into will there will be less people able to pay for the large Baby Boom generation once they are receiving Social Security. This demographic change after 1960 combined with the Baby Boom generation is a recipe for disaster that was unseen back then. It has started to become a problem now that it is only 15 to 20 years away from a big change in Social Security happening. The last major concern is that people are living longer (Quadagno: 334). Thanks to advancements in technology and modern medicine, people are able to live much longer than when this government plan first started off back in 1935. This is also another factor that causes the ratio...

... middle of paper ...

...ned to be. The pattern found within the various social groups dependent on Social Security is that anyone who isn’t a white men will receive less asset income –if any-, less pension benefits –if any-, and less Social Security. Social Security has the potential to become insolvent by 2040 if nothing is done to fix it. In my opinion, to prevent the trust fund of Social Security from becoming insolvent is to restore the trust fund by: raising the age from 67 to 70, cut Social Security Benefits, and increase revenues by raising payroll taxes. Hopefully Social Security will never be privatized because it would: violate what the government should be able to do, increase the payroll tax, and no guarantee of the money from what you invested, if you privatized. Social Security will be able to survive through the Baby Boom generation if the right courses of action are taken.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Reform for the Social Security System

- The Social Security System is in need of a new reform; our current system was not designed for the age stratification we have at this time. The U.S. Social Security Administration Office of Policy 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 one year earlier. The Act created several programs that, even today, form the basis for the government's role in providing income security, specifically, the old-age insurance, unemployment insurance, and Aid to Families with Dependent Children (AFDC) programs.” Social Security was modeled...   [tags: United States, Social Security Administration]

Better Essays
873 words (2.5 pages)

Social Security As A Safety Net For Retirees Essay examples

- The original intention for creating social security was to act as a safety net for retirees, but as time past, there seems to be a great deal of economic issues relating to the program. Social security was created to help benefit retired workers, spouse and children of deceased workers, as well as workers who have become disabled before retirement. This insurance program provides retirees with a steady income once they retire. President Roosevelt signed the program into law on August 14,1935. Since then, social security has been beneficial for many workers and retirees....   [tags: Retirement, Ageing, Social security, Pension]

Better Essays
1680 words (4.8 pages)

Essay about It's Time to Privatize Social Security

- Social Security was established as a promise to the people of continuation of income into retirement. Well the road to hell is often paved with good intentions, because that promise now has the country in economic uncertainty. The guarantee that workers will be taken care of in their old age if they paid their Social Security tax, is no longer guaranteed. If we don’t come to a unanimous decision as to a plan of reform; financially our country is doomed.      Social Security has always struck me as a socialist program....   [tags: Social Security Reform]

Better Essays
2764 words (7.9 pages)

Essay on The Future of Social Security

- As the baby boomers continue to reach the Social Security-drawing age, the American government’s surplus of finances will gradually fall to a dearth of funds unless intervention is made quickly. Plans for reform have been mentioned, but so far nothing has been done to supplement the future’s inevitable lack of funds. The sooner the government takes action on Social Security, the less severe the reform will have to be. Well- planned adjustments in the smallest increments can make the largest impacts on the system of Social Security....   [tags: Social Security, USA, ]

Better Essays
699 words (2 pages)

The Threat Of Cyber Security Essay

- The importance of cyber security is at an all-time high. The United States Infrastructure is outdated to the point if a cyber-attack did happen to the nation’s power infrastructure, the nation will have trouble in fixing the damage infrastructure. Many nations and companies are spending millions to billions to restructure their systems to reduce the chance of being hacked. As more things are connect to the internet, the higher of chance of those things being control by individuals that want to cause damage to those systems....   [tags: Computer security, Security, Nuclear power]

Better Essays
775 words (2.2 pages)

Essay on The Issue Of Food Security

- In recent years, provincial and territorial governments across Canada have begun to develop programs and policies to address the issue of food security. These programs have the potential to play a role in reducing acute health care costs through preventative measures, support economic development and create jobs by developing local agri-food industries, raise the quality of life of residents by increasing access to safe, nutritious food, and promote environmental wellbeing through sustainable agriculture techniques or the promotion of local food....   [tags: Agriculture, Food, Food security, Poverty]

Better Essays
1014 words (2.9 pages)

Information Security And Computer Security Essay

- Since the beginning of technology, the security levels have dramatically increased making the computers and information technology very secure places to store information. In the beginning computer security focused mainly on securing the computer and the physical system. But with everything becoming more and more mobile, security isn’t just about the physical system anymore…it’s also about securing the information that is constantly running between systems and being stored in clouds. This is information security....   [tags: Computer security, Information security, Security]

Better Essays
732 words (2.1 pages)

Essay on Social Security

- Social Security has been around since 1935 and for generations many Americans have depended on these programs for retirement or in the event of permanent disability. Recent news articles lead Americans to believe that Social Security is in financial trouble that the taxes it depends upon to finance the programs for retirement, disability, and medical care soon will not be enough (Huffington post,2010). In part because of the large numbers of people reaching retirement age, this has left a large number of people wondering if they can depend on Social Security for retirement....   [tags: Economics]

Better Essays
1033 words (3 pages)

Social Security Essay

- Social Security "On a daily basis senior citizens face a choice between buying food, paying the rent, or buying medicine. Senior citizens slice pills into halves because they can't afford their full prescriptions." (Federal News Service Sept. 2002) Social Security is what keeps many elderly and disabled Americans from being stricken by poverty. Without Social Security in our society 15.3 million elderly would have incomes below the poverty line, however after Social Security was added to the equation only 3.8 million elderly have incomes below poverty....   [tags: Welfare Politics Essays]

Better Essays
989 words (2.8 pages)

Social Security Essay examples

- Page 1 of 5 A Severe Burden on Working Men and Women In the wake of the September eleventh attacks, America is faced with a long-term war against terrorism. The American people have embraced themselves for a war for an indefinite period of time against an unfamiliar enemy. America has become united and partisanship has been placed aside. Those issues that our political leaders grumbled about before the attacks are no longer on the forefront; however, in due time those issues will resurface and be dealt with by way of traditional partisan politics....   [tags: essays research papers fc]

Free Essays
1774 words (5.1 pages)