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Essay / Research Paper Abstract
A 6 page research paper that discusses the problems, history and failings of the US Social Security system. Examination of the history of Social Security shows that this faltering system has never worked as in the manner that the Americans were taught to expect. There have been massive problems and misconceptions about Social Security since its inception in the 1930s and this has acerbated the program's current difficulties. Bibliography lists 6 sources.
Page Count:
6 pages (~225 words per page)
File: D0_khssapro.rtf
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Unformatted sample text from the term paper:
currently promised to them (Gleckman and Rich 100). Governments and companies, worldwide, are shifting risk from themselves to individuals, which caused the International Monetary Fund to recently observe that "households
are becoming the shock absorber of last resort, taking the hit when markets swoon" (Gleckman and Rich 100). This strategy stabilizes faltering economies, but leaves individuals exposed. Examination of the
history of Social Security shows that this faltering system has never worked as in the manner that the Americans were taught to expect. There have been massive problems and misconceptions
about Social Security since its inception in the 1930s and this has acerbated the programs current difficulties. On August 14, 1935, President Franklin D. Roosevelt signed the
Social Security Act into law. This new social experiment was patterned, at least in part, after the national social insurance program that Germany started in the 1880s. The German system
grew out of the concept that the state has a role to play in providing for the general welfare of workers in regards to sickness, old age and death benefits
(Steinbrink and Cook 209). The US was one of the last advanced nations to follow in Germanys footsteps and establish a system of social insurance. The original Social Security
Act provided only retirement benefits and only to workers (Steinbrink and Cook 209). One of a multitude of little known facts pertaining to Social Security is that the original legislation
was designed as a supplementary insurance or retirement program (Steinbrink and Cook 209). The framers of this legislation never intended for Social Security benefits to provide a means for individuals
or families to live well, but merely as a means for staving off abject poverty (Steinbrink and Cook 209). Even in the 1930s, it was acknowledged that other retirement income,
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