History of Social Security Essay -- Government Economy Economics Essay

History of brotherly security measuresIs it season to privatize social credentials? Many view the system allow for not be able to meet all its obligations by the form 2012. They say genial security go away begin paying stunned more in benefits than it collects in revenue. To continue meeting its obligations, the system will have to begin drawing on the surplus in the Social Security Trust Fund. However, for many years the federal government has use the trust to disguise the actual size of the federal budget deficit, borrowing money from the trust fund to pay current operating expenses and transposition the money with government bonds, essentially an IOU. Proponents for privatizing Social Security people should be allowed the freedom to invest their Social Security taxes. On the other occur contrary to the beliefs of many, there is a strong case to be do that Social Security is sound now and will continue to be sound indefinitely. The major threat to the system comes f rom the proposals to fix it. Privatization presents perhaps the most serious threat to date it would place individuals retirement savings at considerable risk, force the creation of huge government bureaucracies, and leech Social Security assets out of the system and into the coffers of brokerage and banks.In my research reputation I will focus on both arguments of Social Security. Those who believe Social Security should be privatized and those who believe it would be a bountiful mistake to privatize Social Security. Before I go into those perspectives I will focus on the inception of the Social Security System, to puddle the reader background information on how the system developed.The creation of a national social security system in the United States started with the Social Security Act on ... ... BIBLIOGRAPHYBaker, Dean.Privatizing Social Security The Wall lane Fix. http//epn.org/epi/epib112.htmlKotlikoff, Laurence.Rescuing Social Securtiy. Challenge Nov/Dec 1996 22-26Lieber man, Trudy. Social Insecurity The ladder to take the System Private. The Nation 20 Jan 1997 11-18Mashaw, Jerry. The Great Social Security Scare. http//epn.org/prospect/29/29mash.htmlSchnepper A.Jeff.Privatizing Social Security.USA Today whitethorn 1996 25-28Tanner, Micheal. Privatizing Social Security The Social Security Debate. Challenge Nov/Dec. 1996 19-23Tanner, Micheal. Privatizing Social Security A Big Boost for the Poor. http//cato.org/pubs/ssps/ssp4.htmlWasow, Bernard. Privatizing Social Security. http//epn.org/tcf/xxssec01.htmlWeinberger,Mark.Social Security Facing the Facts. http//cato.org/pubs/ssps/ssp3.html