Social Security 
The U.S. Social Security system provides benefits to the elderly, retirees, the disabled, the unemployed, and children. The Social Security taxes that workers pay go toward benefits for people who have already retired. This system worked well when the population included 1 retiree for every 120 workers. However, by the 1970s, the ratio of retirees to workers was 1 to 5. Payments now exceed contributions from taxes, and the system faces serious funding problems.
Many nations operate social security programs to assist their citizens financially and protect them from poverty. The United States, for example, has a social security system that provides benefits to the elderly, retirees, the disabled, the unemployed, and children. Although social security enjoys strong support among Americans, it has nevertheless…>> (read more)
Social Security in the News
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She has ruled out cutting benefits, raising the retirement age, or establishing personal accounts to fix Social Security. Barack Obama has followed suit and suggested…>> (read more)
At a conference on April 16, Richard Fisher, president and chief executive officer of the Federal Reserve Bank of Dallas, warned that the U.S. economy could be facing trouble…>> (read more)
When Social Security was created in the 1930s, intelligent observers said it would fail.
Its first recipient, Ida Fuller, contributed less than $25. After 35 years of…>> (read more)
Social Security Statistics
