Topic > Reform of the social security system - 873

The social security system needs a new reform; our current system was not designed for the age stratification we have right now. The U.S. Social Security Administration Office of Policy states: “The original Social Security Act, signed into law on August 14, 1935, arose from the work of the Committee on Economic Security, a Cabinet-level group appointed by President Franklin D Roosevelt just a year earlier. The law created several programs that, even today, form the basis for the government's role in providing income security, particularly old-age insurance, unemployment insurance, and programs to help families with dependent children (AFDC). Social Security was designed to help senior citizens, however in the past seniors were not destined to live extended lives. The elderly population has grown dramatically and relies on financial help from the government to survive economically. Failure to accurately fund the social security system has led to a situation where sufficient funds will not be distributed in the future; Government officials must create a new social security policy reform. Social Security is available to all working citizens; many of the younger generations may not be able to receive this help in the future. The Social Security system was not designed for the age distribution we have today. Due to differences in age stratification, the life expectancy of older generations has increased. In the past, many elderly people died 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 more on benefits than it received in revenue, and it drew from yours... .in the center of the sheet......rough, 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, July 19, 2011. Web. May 7, 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, February 19, 2010. Web. April 15, 2013Hinden, Stan. “What changes to Social Security are coming in 2013?” AARP organization web page. AARP Real Possibilities, October 23, 2012. Web. May 5, 2013. Kadlec, Dan. “Social Security Takes More Than It Gives.” Weather web page. Business and Money Time, August 7, 2012. Web. May 4, 2013. King, Gary and Samir S. Soneji. “Social Security: It's Worse Than You Think.” The New York Times web page. The New York Times News, January 5, 2013. Web. May 3 2013.