Introduction - Introduction The Field 1 Social Security in...

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Introduction - The Field 1. Social Security in what sense? Social security as in “social welfare expenditures” -- i.e. social insurance plus need-tested public benefits totaled over $1.5 trillion in fiscal 1995 (over 20% of gross domestic product) o In 2004, Social Security plus SSI, Medicare and Medicaid accounted for more than $1 trillion of the $2.2 trillion the federal government spent. (Defense spending was $347.7 billion). o During the same period, state and local governments spent approximately $368.2 on welfare, social service, and health programs. Social security as in Social Security Act of 1935 (as amended) o and FDR’s statement upon signing ( Video Clip ) expansive hopes for legislation signaled by the phrase social security o Used in the mid 1930s as an act label that launched a wide variety of programs o Federal participation in state run programs meetings federal criteria o Included a scheme of retirement benefits “old age insuarance” Social Security as in OASDI o Family of programs derived from one of the programs under the SSA o Old age insurance and benefits for survivors and disabled workers “Old Age, Survivors and Disability Insurance” o Authorized by SSA in Title II in 42 USC 400ish Social Security as in FICA and SECA taxes o SSA benefits tightly linked to these tax provisions Social Security as in OASDI plus SSI (and Medicare?) o Social Security OASDI interacts with other programs like SSI and Medicare o Supplemental Security Income (SSI) Also administered by Social Security Administration Individual applies for social security benefits but its small enough that
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This note was uploaded on 04/29/2008 for the course LABR 1070 taught by Professor Calabrese/martin during the Spring '08 term at St. Johns Duplicate.

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Introduction - Introduction The Field 1 Social Security in...

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