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Essay / Research Paper Abstract
3 pages in length. There is no guarantee that American retirees will enter their twilight years with much financial support from the United States Social Security system. Indeed, the failing program has been stricken with a number of blows to its assets that have made it a significant concern for all citizens, no matter if retirement is around the corner or still several decades away. The writer discusses the inherent problems that plague the United States Social Security system, as well as addresses various ways to improve it. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: LM1_TLCUSsoc.doc
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Unformatted sample text from the term paper:
fact that the Social Security trust fund has not been properly invested in the past. If no such problems existed, President Clinton would not have launched a yearlong quest
last April to determine which, if any, tactics will be instrumental in bailing out the failing program. Despite the fact that recipients will not experience any monetary consequences until
after the year 2000, it is a situation that must be rectified long before the final moment arrives (Miller, 1998). President Clinton did not pay too much attention to the
Social Security "woes" (Miller, 1998, p. 20) during his first term in office; instead, he acted as so many other democracies do when faced with a looming fiscal crisis: they
wait until the very last possible minute to jump into action. However, there is not much more time available if something is ultimately going to remedy the systems financial
status. "...It would be unconscionable if we failed to act now" (Miller, 1998, p. 20). New York Senator Patrick Moynihan claims that the only perceivable way to save the
Social Security system is to establish a portion of the program as a private entity. According to Moynihan, a known defender of Social Security who presented his case before
Capital Hill, this tactic will serve to relieve some of the overwhelming pressure that buckles the current system. However, this would serve to "shift tremendous power from politicians to
individual workers" (Hanchette et al, 1994, p. PG), which is an unacceptable alternative to many. Others believe that the entire program must be overhauled in order for it to
operate at the level at which it was originally intended (Miller, 1998). Interestingly, as the years continue to roll by without any resolution on the table, old and previously defeated
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