The Public Social Security Budget
SIMONA MARIA POP
THE PUBLIC SOCIAL SECURITY BUDGET
The budget of a government is a summary or plan of the intended revenues and expenditures of that government. In some countries, such as the United States, the budget is mainly prepared by the legislature, in others it is prepared by the government.
Budgets are an essential element in the planning and control of the financial affairs of a nation or business and are made necessary essentially because income and expenditure do not occur simultaneously.
Social security defines a system of government-financed income transfers designed to effect a distribution of income considered desirable. The main component of most social-security systems is welfare benefits, given to those in poverty. This can be done in two ways:
- by identifying groups that are likely to be poor and giving benefits to them (e.g. the unemployment, the elderly and the disabled) irrespective of their actual income.
- by identifying, through means tests,......
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