Social Security Programs Research Paper Example | Topics and Well Written Essays - 750 words

Social Security Programs - Research Paper Example This was meant actually to ensure the retirees had some money at their disposal so as to ensure cash flow which would in turn stimulate the economy. In addition he also wanted this program to be an income supplement. This was also supposed to ensure that most people especially the old and disabled were to be entitled to a social security insurance program especially those who were of the aged (Dilnot, 1989). Over the past year there has been much to say about the social security fund though most talks don’t seem to be very appealing. The truth of the matter is the Us government is really having it rough now as far as the social security fund is concerned since the dependants today compared to the time when this project was initiated has rose by millions. In the coming 2-3decades this fund will be practically impossible to run and offer the citizens of US that social security it was intended for (Sacks, 2000). One major blow to the social security fund is the fact that the group of beneficiaries have been increased over time from just the elderly and disable to the spouse or minor children of a retired workers and another benefit was also included for the family of a worker who has dead prematurely. Now if you put together these facts together with the fact that Americans are living longer then this is a big blow to the success of this fund in the coming years (Sacks, 2000). According to the additional views by the Senator Robert J. Dole, the long term deficit that will be in the non-medical social security program translated to 1.8% of the taxable payroll. when one On closely looking at the projections of the actuaries, in the next 75years the benefits of this program shall be very challenging to payroll tax income translating to about $25 billion per year in deficit. This deficit is seen practically a big problem to the success of the social security fund and if not addressed this program has a very terrible