Essay on Reform for the Social Security System

Essay on Reform for the Social Security System

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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 to aid the elderly citizens, however during the past elderly people were not destined to live an elongated life. The older population has grown drastically and is relying on the help of the government’s financial help in order to survive economically. The failure to fund the Social Security system accurately has resulted in a situation where there will not be enough funds distributed in the future; Government officials must create a new Social Security policy reform.
Social Security is available for all working citizens; many of the younger generation may not be able to receive this aid in the future. The Social Security system was not designed for the age distribution we have now. Due to the differences in age stratification, the older generation life expectancy has increased. In the past, many of the elderly would die at a young age. The New York Times states, “For the first time in more than a quarter-century, Social Security ran a deficit in 2010: It spent $49 billion dollars more in benefits than it received in revenues, and drew from its ...

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...raw, David and Dr. Allen Smith. “How your social security money was stolen-Where did the $2.5 trillion surplus go?” AmpedStatus organization webpage. AmpedStatus Report, 19 July 2011. Web. 07 May 2013.
DeWitt, Larry. “The Development of Social Security in America.” Social Security Administration webpage. U.S. Social Security Administration Office of Retirement and Disability Policy, 19 February 2010. Web. 15 April 2013
Hinden, Stan. “What Social Security Changes are coming in 2013?” AARP Organization webpage. AARP Real Possibilities, 23 October 2012. Web. 05 May 2013.
Kadlec, Dan. “Social Security takes more than it gives.” Time webpage. Time Business and Money, 07 August 2012. Web. 04 May 2013.
King, Gary and Samir S. Soneji. “Social Security: It’s worse than you think.” The New York Times webpage. The New York Times News, 05 January 2013. Web. 03 May 2013.

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