Social Security in the 21st Century

Social Security is a success for Americans. The program provides the foundation of economic security for more than 47 million Americans and their families. The reason for the built-in protection is to eliminate the poverty of the elderly. It helps to provide basic income to millions of families who have suffered the death or disability of the landlord.

The financial security of social security is very strong. In 2003, he spent $ 161 billion more than benefits. These programs are a source of benefits for infants and their children and grandchildren. Security agents predict that they will pay more in the future, at least in years, when the surviving baby boomer will mostly be in the 80s and 90s. If the US economy's long-term growth rate is halved over the past 50 years, after 2042, the investment fund may be exhausted, but social security tenants will still cover the estimated $ 1,000 value after inflation as today and # 39.

With less pessimistic assumptions, supervisors' low-cost long-term forecasts, which will continue to provide all generations of retirees with more generous benefits than their predecessors throughout the 21st century. If social security finances are in good condition, why are there so many politicians, political analysts and reporters who warn that something needs to be done to save? How many Americans are there to make sure they won't be there for them.

Misconceptions about social security are widespread, as long-term forecasts are based on multiple assumptions as facts, often distorted, and almost always out of context. the ideology or hope of profiting from the billions of investment fees generated by the privatized system.

The majority of the Americans would be financially worse under a privatized system, each of them much less secure, and creating a new system would be an undermining of the belief in the current program, and private organizations promoted the agenda.

This report provides background information on the functioning of social security, explaining how Americans can easily afford in the long run, even if the population is old and points out the fundamental problems with the proposal and the privatization of the program.

Finally, he suggests how to improve social security in order to better serve Americans. While most often considered as a retirement program, 30% of beneficiaries collect survivors of disability insurance. Social security survivors 'benefits for disabled workers' families, including children under 18, 18 and 19 in high school, disabled sons or girls of any age, elderly and elderly, disabled or surviving spouses . children.

The social security fund and supervisor report are based on 75 years of income and social security projects. Forecasts require many assumptions about birth rates, immigration rates, unemployment, average wages, life expectancy and the like. Small differences in assumptions over 75 years can result in large discrepancies between results. On the basis of various assumptions, the agents make three different forecasts. These three scenarios are called low-cost, intermediate and high-cost forecasts:

Intermediary dimension of the agent: Intermediary Forecast of the Trustee that data on social security wages will continue to outweigh the benefits by 2018, as well as the combination of taxes and interest rates on investment. The fund will cover the benefits until 2028.

Low cost forecasts by supervisors with slightly different assumptions are a prerequisite that the trust fund will never be exhausted, and the program will always have the resources to pay the full benefits without changing the tax rate or profit formula.

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