The Reformation Of Social Security
The Reformation of Social Security
The purpose of this paper is to inform the reader of the purpose of Social Security and to analyze the reformation plans of President Bush. The reforms could cost an estimation of Two trillion dollars in the long run. And last, to offer my own resolution to this problem.
The original purpose of Social Security in 1935 was to subsidize people's retirement with a little extra money, not to become the sole retirement account. It was also to support those who were financially unable to support themselves because of a disability, or unfortunate incident as being widowed or burdened with medical bills. At its inception in 1935 the, "Ratio was thirty to one for workers supporting non workers, and in 1998 it was three to one" (Social Security Administration Annual report of the board of trustees, 1998) Social Security primarily was intended to be an insurance program for the American people. According to CNN, as the baby boomers generation comes......
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Approximate Word Count: 1504
Approximate Pages: 7 (250 words per double-spaced page)
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