History Of The Social Security Program :: American History

In 1935, after entrust failures and a stock market crash had wiped out the savings of one thousand thousands of Americans, the democracy turned to their president to guarantee the elderly a decent income. In those days, only a handful of workers had regain to pensions from their employers or through terra firma governmental pension computer programmes. Over half of Americas elderly lacked sufficient income to be self-supporting. The Social gage Act was enacted at the urging of President Franklin D. Roosevelt to nominate a social insurance program that ensures workers would have a lineage of income after they retired. In the decades that have followed, Social Security has become sensation of the federal governments most popular and essential programs. Despite on the whole our efforts to abet savings and investment, the hugger-mugger retirement picture has not changed much in recent decades. Even today, b atomic number 18ly half of all workers have access to retirement plan s at work, and millions reach retirement age without enough private savings to provide an adequate living in retirement. Social Security is still the foundation for most seniors retirement. Without this critical safety-net program, over half of all older Americans would fall into poverty. Social Security does exactly what it was designed to do. It gives retired raft a secure, basic income for as long as they live. At the peculiarity of 2005, more than 48 million people were receiving Social Security benefits 33 million retired workers and their dependents, 7 million survivors of deceased workers, and 8 million incapacitate workers and their families. Over time, the Democratic Party has implemented changes to the Social Security program in order to adjust to changing times. In 1965, President Lyndon B. Johnson proposed and later on signed the legislation to create Medicare. The Medicare program was added to provide universal, affordable health care benefits to retirees. Med icare is the largest health insurance program in the United States. At the end of 1966, Medicare served approximately 3.9 million individuals. As of 2003, it serves about 41 million people. There are 5.6 million Medicare beneficiaries enrolled in managed care programs. Medicare is an entitlement program uniform to Social Security and is not based on financial need. Medicare benefits are available to all American citizens over the age of 65 because they or their spouses have paid Social Security taxes through their working years. Since Medicare is a federal program, the rules for eligibility remain constant throughout the nation and coverage body continuous regardless of where an individual receives treatment in the United States.