Social security program

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The original Social Security Act “was signed into law by President Franklin Roosevelt in 1935” (Sonaji & King, 2012). As amended the current version of the Act covers different programs in social insurance and social welfare. After the Great Depression, the poverty levels in the United States stood at over 50 percent. President Franklin Roosevelt came up with the idea of the Social Security Act so that to reduce the threat posed by the high poverty levels among the Americans. Today, the law requires that all American citizens working in the United States to be in possession of an individual Social Security number. Also, many non-working citizens’ posses Social Security numbers as it a requirement of different businesses. This paves the way for the discussion on the concept of Social Security as first envisioned as well as the viability of the program with possible recommendations that can boost its efficiency for the future generation.

The concept of Social Security

President Franklin Roosevelt felt the need to establish a program that would cater to the needs of those aged above 65 years with these retirees receiving monthly benefits. According to Dutta and Pal (2012), to enhance his political popularity, the president realized that the establishment of the Social Security Act would counter the effects of unemployment, poverty, among other issues. This insurance program was to be funded by payroll taxes that were deducted from the contribution of individuals working in the United States. Then upon retirement, these contributions would be paid out in monthly installments so that to cater for medical care, unemployment insurance, and so on.

During the mid-1930s President Franklin Roosevelt's administration faced a lot of criticism concerning the proposal to implement the social security initiatives. According to Sonaji and King (2012) critics of the implementation of the program argued that it was an outline that would result in the establishment of socialism in the United States. In the early stages, the social security was very ineffective and discriminatory because its beneficiaries were majorly selected white males. This situation meant that women, African Americans and Native Americans did not benefit from the provisions of the Act.  Further, amendments on the Act resulted in a change of focus to the changing gender roles and inclusion of minority groups.

The viability of the Social Security Act

            Questions and reservations regarding the viability of the social security fund have been raised from different quarters (Sonaji & King, 2012). Dutta and Pal (2012) agree with this assertion by arguing that since the implementation of the Act in the 1930s there have been constant amendments so that to improve its viability. For instance, in the 1960s the Act was amended so that it could provide cover for the minority groups within the United States society. The changes made by the Congress on the Social Security Act have been focused towards boosting its efficiency and suitability levels. These amendments include reduction of benefits.

Dutta and Pal (2012) assert that the changes on the Act have been deemed as necessary as they have improved and reviewed the fund so that to ensure it is up to date with the changes in the society. The constant amendments have provided that insurance coverage will be viable in the next 20-30 years because it has strengthened the funds' policies and strategies. Nonetheless, various reports have predicted...