Final - Running head FINAL 1 Final Steven Barry COM 156...

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Running head: FINAL 1 Final Steven Barry COM 156 November 27,2010 Linda Troxler
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FINAL 2 Final In the United States, social security has played an important role in planning for retirement, but it will not be around much longer, so any U.S. citizen who is not planning to retire in the next five to 10 years needs to come up with a retirement plan that does not include social security benefits as a source of income. The intent of social security was never to cover all of American’s retirement needs, but to aid in the expenses when they retire. The Encyclopedia Britannica states that President Franklin D. Roosevelt drafted the social security insurance program during the Great Depression and Congress made the Social Security Act a law on August 14, 1935. According to the Social Security Administration the new law was made to assist and provide benefits for the families who had elderly people who had the lack of funds to contribute the families living expenses and could no longer work to provide the necessary income. In the beginning, the benefits were limited and did not include many service-related workers (farmers, maids, household help), but after many amendments made to the Social Security program over the last 75-years benefits as of today are provided for almost all U.S. Citizens who reach retirement age, have a disability, or have an unexpected death in the immediate family. According to the Social Security Administration this is where the problem starts to occur. They state by 2037 the trust funds no longer exist because people
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Final - Running head FINAL 1 Final Steven Barry COM 156...

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