Social Security act of 1935 essays

Social Security act of 1935 essays During the 1930s the Great Depression triggered a crises in the nations economic life. The Great Depression left millions people unemployed and penniless. President Franklin D. Roosevelts administration searched for a way to jump-start the economy. This was that backbone of the Social Security Act of 1935. On August 14, 1935 President Franklin D. Roosevelt signed the original social security act. The original social security act was part of Franklin D. Roosevelts plan called The New Deal. The New Deal was created to help jump-start the economy by provider unemployed workers with jobs. The original social security act was created to help retired workers, by paying them a continuing income after retirement. Today social security has grown to become an essential factor of modern life. One in every six Americans receives a social security benefit and about ninety-eight percent of all workers are in jobs covered by social security. Over time the original social security act has went through many changes and amendments. Some of the important changes the original social security act went through was is broaden to include survivor benefits, disability benefits, health-care benefits, and automatic cost-of-living adjustments. Its first amendment was in 1939, which added two new categories to the benefits. These categories are payment of the spouse and minor children of retired workers and survivor benefits paid to family in the event of the premature death of the worker. In 1950 it went through its second amendment which raised benefits for the first time ever and placed the program on the road to the virtually universal coverage it has today. Then it went through its third amendment, which added a disability insurance program that provides the public with additional coverage against economic insecurity. In 1956 the social security act was amended to provided benefits to disabled workers. ...