Explaining the Social Security Crisis

social security definitionMillions of people in this country depend on a program called Social Security to help them retire, or continue to care for their family after an accident leaves them disabled or dead. This system has been in place since it was created during Franklin D. Roosevelt’s administration during the Great Depression. The basic concept for Social Security is that workers pay into the system out of each paycheck for their retirement, and then are able to get paid back incrementally over the course of their retirement. This makes Social Security decidedly different from programs like welfare, as Social Security is an earned right, not an entitlement program. However, this program is now in a crisis, one that may threaten its existence. And here’s why…