Funding the Future of Social Security
A look at the economic future of social security for Americans and the possible disasters that could erupt with the changing population.
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This paper discusses the expected changes to the population and various solutions and opinions proposed by current economists, writers and politicians to prevent a threatened funding disaster of the current social security system.
“Social Security is a popular program; it has consistently pumped out millions of monthly checks for 44 million beneficiaries, has reduced poverty among seniors by two thirds over the last 40 years and has allowed people with disabilities to make ends meet (Consumer Reports, 2000). Social Security is a genuine contributor to the sturdiness of the economic system. It’s a promise to pay, secured by Treasury securities, which in turn are secured by taxpayers. The government has to use the money currently pledged for whatever the citizens decide Social Security benefits should be (Quinn and Ehrenfeld, 2000). ”