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Essay / Research Paper Abstract
5 pages in length. There is no guarantee that American retirees will enter their twilight years with much financial support from the United States Social Security system. Indeed, the failing program has been stricken with a number of blows to its assets that have made it a significant concern for all citizens, no matter if retirement is around the corner or still several decades away. The writer discusses the inherent problems that plague the United States Social Security system. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: D0_USSocSec.doc
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blows to its assets that have made it a significant concern for all citizens, no matter if retirement is around the corner or still several decades away. If there
exists such a significant problem today, who is to assure the coming generations that enough money will still remain in the system for their retirement years? It is difficult to
ignore the tremendous financial trouble that plagues the United States Social Security system, with the primary problems being Americas current number of retirees and the fact that the Social Security
trust fund has not been properly invested in the past. If no such problems existed, President Clinton would not have launched a yearlong quest last April to determine which,
if any, tactics will be instrumental in bailing out the failing program. Despite the fact that recipients will not experience any monetary consequences until after the year 2000, it
is a situation that must be rectified long before the final moment arrives (Miller, 1998). President Clinton did not pay too much attention to the Social Security "woes" (Miller, 1998,
p. 20) during his first term in office; instead, he acted as so many other democracies do when faced with a looming fiscal crisis: they wait until the very last
possible minute to jump into action. However, there is not much more time available if something is ultimately going to remedy the systems financial status. "...It would be
unconscionable if we failed to act now" (Miller, 1998, p. 20). New York Senator Patrick Moynihan claims that the only perceivable way to save the Social Security system is to
establish a portion of the program as a private entity. According to Moynihan, a known defender of Social Security who presented his case before Capital Hill, this tactic will
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