An Evaluation Of The Social Security System With Suggestions For Improvement
The future of Social Security, a law designed to provide individuals with a minimum standard of living, is now highly questionable. Overspending by government, inflation, and a host of other factors have led to the crippling of this program. Today, citizens wonder if they will ever receive the benefits they purchased through years of contributions into the system. The question on many peoples' minds remains, "Is Social Security actually secure?" In the opinion of many experts, the system is headed for destruction within the next few years unless some drastic measures are taken to correct the system's many problems. To understand the program and the problems of the system, one must understand the circumstances under which the Social Security Act was passed. One should also be aware of how the system operates, including a discussion of the methods of funding and benefit payments. Finally, one should recognize the factors that have caused the system's current woes and some of the proposed suggestions to get the system back on its feet again.