Lecture10_Oct5

Lecture10_Oct5 - What government policies exist to help the...

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What government policies exist to help the  poor?
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U.S. History Leading Up to Social Security Act § Changes in America, starting in the 1880s § Move from agrarian to industrial economy § Move from rural to urban society § Less reliance on extended families § Increase in average life span § Great Depression leads to calls for radical change § Roosevelt s proposal § social insurance (not welfare assistance) for the elderly, unemployed, and widows § FDR speech on signing the Social Security Act (1935)
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Social Insurance: Elderly § Social Security (Old Age, Survivors, & Disability Insurance: OASDI) § Benefit: Monthly cash stipend § Target Pop.: Elderly (62 and over) and survivors § Medicare § Benefit: In-kind health insurance & prescription drug coverage § Target Pop.: Elderly and disabled
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Social Insurance: Prime-Age Workers § Unemployment Insurance § Benefit: Weekly cash benefit up to 26 weeks § Target pop.: Unemployed workers in covered jobs § Workers Compensation
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This note was uploaded on 02/03/2012 for the course ECON 375 taught by Professor Staff during the Fall '10 term at Maryland.

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Lecture10_Oct5 - What government policies exist to help the...

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