Will there be enough when it’s my turn?
Table of Contents
How it all started
What is Social Security?
Social Security and Our Economy
Is there a Solution?
How it all started
People have been faced with uncertainties brought on by unemployment, illness, disability, death and old age. These, along with other uncontrollable facts, are threats to our economic security. “Poor Laws” were formed in 1601 in England and are considered to be the first system that provided relief to poor. Although they were generous, they also caused the wealthier to view the poor as highly undesirable characters and treated them that way.
The Civil War left a very, high portion of the United States, to be disabled or survivors of the deceased than any other time in America’s history. In 1776, the government developed, the first national pension program as a result. It was set up to provide benefits to disabled as a direct consequence of military duty. The new plan also provided benefits to the widows and orphans equal to what would’ve been paid to their deceased solider if he had been disabled. The largest expenditure ever made by the federal government was in 1893 for $165,000,000.00.
After the Great Depression, poverty among the elderly grew at an alarming rate. In 1934, over half of the elderly in America lacked sufficient income to be self-supporting. It was not until urbanization, better health care and sanitation that Americans began to live longer lives. Urbanization also brought about different ways of living. Urbanization means the removal of the rural characteristics of a town or area, a process associated with the development of civilization and technology. Demographically, the term denotes redistribution of populations from rural to urban settlements.
Prior to urbanization, most families lived as extended families where grandparents, parents... [continues]
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(2010, 11). Social Security. StudyMode.com. Retrieved 11, 2010, from http://www.studymode.com/essays/Social-Security-480139.html
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"Social Security." StudyMode.com. 11, 2010. Accessed 11, 2010. http://www.studymode.com/essays/Social-Security-480139.html.