Social Security A Brief History - 1125 Words

Almost every American adult citizen is aware of the Social Security Administration. Every payday, each working American has tax deduction for Social Security on their payroll stubs and these deductions are recorded on their W2 forms at the end of the year. If they have older parents or disabled family members, then they would be aware of Social Security Disability Income (SSDI) and/or Social Security Income (SSI). Many young people are not conscious of life before Social Security, how disabled or elderly citizens lived without Federal assistance or how Social Security came into existence. Like any issue, there are champions and challengers, people will argue over the benefits and the weaknesses of the issue or alternate ideas for the same†¦show more content†¦The Crash of 1929 signaled the beginning of the Great Depression, banks closed, business failed, people lost not only their jobs and income, but their homes and savings, if they had any. One website Shmoop documented th e average unemployment rates for the Great Depression: 1929: 3.2% 1930: 8.9% 1931: 16.3% 1932: 24.1% 1933: 24.9% 1934 21.7% 1935: 20.1% 1936: 16.9% 1937: 14.3% 1938: 19.0% 1939: 17.2% Many factors caused the Great Depression, but resolving unemployment and helping the helpless was critical. During the election of 1933, current President Herbert Hoover was quoted during one election speech â€Å"I pledge you – I pledge myself to a new deal for the American People.† (Wolfskill 128) Hoover had his chance but he lost the election to Franklin Delano Roosevelt who would become known by his initials, FDR. Happy Days According to George Wolfskill, author of â€Å"Happy Days Are Here Again!†, Roosevelt shook up Washington, D.C in his first days in office; first he closed the banks. He called for special sessions of Congress and the Emergency Banking was the first of many new bills to be created. By June of 1933, â€Å"Roosevelt had everything he asked for: the Beer and Wine Act, Farm Credit Administration, Civilian Conservation Corps, Federal Emergency Relief Act, Securities Act, Tennessee Valley Authority, Home Owners’ Loan Corporation, Agricultural Adjustment Act, National Industrial Recovery Act, Federal Deposit Insurance Corporation, and the repeal of theShow MoreRelatedThe Ethics Of The And Public And Private Industry867 Words   |  4 Pageshuman beings tend to be the greatest security vulnerability to the public and private industry. In 1875, Alexander Graham Bell whose invention efforts for the talking telegraph were financed by Gardiner Hubbard and Thomas Sanders, invented what is known today as the . These three men for Bell Telephone Company to exploit the telephone. With that, the first telephone switchboard, Bell Telephone began business in New Haven Connecticut in 1878 (A Brief History: Origins, n.d.). Bell Telephone CompanyRead MoreGovernment Intervention Of The 1920 S1661 Words   |  7 Pagesand detail its history.† Social security was created out of necessity by the United States of America (US) government. One primary cause attributing to this necessity was due â€Å"to better health care and sanitation, and the development of effective public health programs,† â€Å" resulted in â€Å"Americans† living â€Å"significantly longer,† (Social Security - Historical Background And Development Of Social Security, n.d.). With the economic depression occurring six years prior to Social Security act being implementedRead MoreAgency Structure Essay1227 Words   |  5 Pagesidentify each agency as an executive department or independent agency. Furthermore, provide the appropriate subcommittee for budget requests and give a brief agency history. Additionally, provide the U.S. Secret Services proposed and actual budget authority and outlays for a recent year. 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If changes are not forged, the Social Security system will not be able to keep up with the demanded payouts and is estimated to empty the trust fund around the year 2037. In this paper I will review a brief history of the Social Security program, touch upon the eligibility requirements, discuss what economists believe about the future of the Social Security Program, and finallyRead MoreThe Idea Of A National Health Insurance System Essay1279 Words   |  6 Pagesin 1912 (A Brief History of Medicare in America). While he was campaigning to become president his platform included health care reform, more specifically health care insurance (A Brief History of Medicare in America). His idea never truly took off, but it remained on the agendas for the presidents that would come after him. 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Ghosh’s research is organized and informative and prepares a short nevertheless excellent guide for practitioners and health seeking individuals. Jost, T. (2012). Eight Decades of Discouragement: The History of Health Care Cost Containment in the USA.  Forum For Health Economics Policy,  15(3), 53-82. doi:10.1515/fhep-2012-0009 In this particular scholarly journal the author Jost explains his research studies and the history of the costRead MoreEssay about Social Security999 Words   |  4 PagesSocial Security On a daily basis senior citizens face a choice between buying food, paying the rent, or buying medicine. Senior citizens slice pills into halves because they cant afford their full prescriptions. (Federal News Service Sept. 2002) Social Security is what keeps many elderly and disabled Americans from being stricken by poverty. Without Social Security in our society 15.3 million elderly would have incomes below the poverty line, however