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Social Security Effects On Society

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The Great Depression brought about many changes that not only affected individuals but society as a whole. The effects live on today within our nation as a concept called Social Security. The Social Security Act was brought about to aid the elderly and those who became unemployed due to the massive economic crisis. Social Security was originally defined as old age insurance, unemployment insurance, disability insurance, and for spouse and dependent children benefits upon death of a worker. Social Security was created to accomplish certain things and has changed dramatically throughout the years.
Imagine that you are moving about in normal daily living when it feels almost over night the bottom completely drops out of your life. The stock …show more content…
Millions of people lost their jobs and the job market is still not yet back to normal. This further decreases the amount of people who are adding into the pot of money that is Social Security. (Will Social Security)
Unfortunately, not many American people are aware of this when it comes time to voting. “Despite the fact that a whopping 51 percent of millennial believe they will receive no Social Security benefits by the time they are eligible, and despite the fact that 53 percent of millennial think government should focus spending on helping the young rather than the old, a remarkable 61 percent of young voters oppose cutting Social Security benefits in any way, full stop.” (crookedtimber)
Another reason for the lack of funds in the Social Security’s bank is that many people try to, and often succeed in committing fraud. 40,000 American people tried to lie, cheat, and steal from America when they decided to take a fake Social Security number that was sold in a wallet and use it to receive money from the government. Not only is this behavior intolerable and disgusting, but it is also detrimental to the future of not only today’s generation, but also generations to …show more content…
Roosevelt in 1935, was a law with great intentions. Law makers, at that time, were trying to look out for their children's future. They wanted to create an America where people could retire happy and with enough money to cover their day by day routine and needs. The idea was that current workers will pay for past workers and the cycle will continue until the end of time. This is would have worked perfectly but, unfortunately, there were a few problems. These problems include that the baby boomers, the people are now reaching retirement age, far out number the people who are entering the work force. Another problem is that there was a recession recently that put millions of Americans out of work. This further lessened the number of people able to add to the pot of money that is used by retired people to get by. The last reason is that many people often try to take advantage of the system and its faults by lying, cheating, and stealing money from the U.S. government. All three of these factors are legitimate reasons and explanations as to why Social Security may not be around to protect future generations of retired people. While this is surely sad, it can not be fixed unless the American people fix it. Further actions would be need to be taken in order to decrease the amount of money that the Social Security office is spending which will allow for further growth. Once the bank has a healthy amount of

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