The Worst Economic Crisis: The Great Depression

2350 Words 10 Pages
In the years of the early 1930s, America was fighting to come out from one of the worst economic crisis “The Great Depression”. This was a time where unemployment rates were very high and the economy was at an all-time low. Therefore this lead to an abundance amount of issues one of the main problems had been concerning the elderly and their retirement plans. Workers aged 65 and older tended to be the first to lose their jobs and the last to be rehired during economically difficult times; almost no one had any reliable cash-generating form of retirement security.
This crisis brought upon Social Security, and ever since then it has been a huge success the way it has worked and has helped many families. The act involved many different categories; each of them plays a vital role in today’s economy. Looking into today’s government there has been many new challenges faced that the program will be unable to pay promised benefits beginning in 2035. Due to the ongoing controversy between liberals and conservatives, we need to ensure that there would be a social security for the generations to come because there will always be uncertainties brought upon by unemployment, disabilities, death, and old age.
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Believe the role of government should be to provide people the freedom necessary to pursue their own goals. Conservative policies generally emphasize empowerment of the individual to solve problems. The Social Security system is in serious financial trouble. Major changes to the current system are urgently needed. In its current state, the Social Security system is not financially sustainable. It will collapse if nothing is done to address the problems. Many will suffer as a result. Social Security must be made more efficient through privatization and/or allowing individuals to manage their own

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