When FDR took over the presidency he had to figure out a way to improve the
American economy. In August of 1935 President Roosevelt signed the Social Security
Act into law. (WhiteHouse.gov.) The law was to provide money to the old, sick, and
penniless. A certain percentage of the employee and employers wages was to be
removed from each paycheck. The law passed by a landslide, but there were still some
against it. They said that the working people contributing to this social security program
would never see their money again and they were being flat robbed.
Well, today we are starting to see that problem arise for the future. The money is
estimated to be gone in less than thirty years, (Sanford), and that is the optimistic number.
With the Baby Boomer generation about to retire, the funds will collapse and the people
who have given money out of every paycheck they have ever received just might not get
the promised return.
What is needed is a way to stop using the social security fund to pay
off other debts and a way to increase the funds without hurting the American people. Not
enough people pay attention to what goes on in our government, nonetheless, understand
it. We all know that the US spends a ton of money on national defense. I am
not saying that we should not spend a good deal of money, but is it entirely too much.
Could some of this money be used to refill the social security funds? If we do not face
this problem and find a just and promising solution, the fate of economic security and
social welfare for the American people will be very grim.
Many foreseeing problems are starting to arise due to social security neglect. One...