Social Security : Restoring Solvency Essay

825 Words 4 Pages
Social Security continues to develop into a serious financial issue in America. The present system is experiencing complications that could have an impact on the future of this system. Given the current state of the U.S Social Security Program, what reforms, if any, should be made to improve the effectiveness of this program? In the next section, three important issues surrounding social security will be addressed. The first problem addressed is the increasing number of Social Security beneficiaries compared to the number of workers. Second, the current trust fund being inadequate to finance future benefits. The final problem identified is the crisis resulting from an increase in life expectancy of men and women in America. Following, we will propose the best alternative methods for improving the social security system using two academic journals. In the journal, “Social Security: Restoring Solvency”, the authors’ investigate today’s Social Security system and its continued effectiveness. One of the emerging crises that the authors’ identify is the smaller number of workers relative to the number of Social Security beneficiaries. In 2010, the worker to OASDI recipient ratio was 2.9, compared to 41.9 in 1945 (2012 OASDI Trust Report). A significant growth among the population of people eligible to receive OASDI benefits is triggering the decline in ratio of workers to beneficiaries. According to the U.S Census Bureau, less than 8% of the population were over the age of 60…

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