The Future of Social Security
In the last few years, the fate of the Social Security administration has come into question. The system faces various challenges like the growing number of retirees and the shrinking number of workers paying into the system. In this module, you will look at possible solutions to such problems. You will also examine the political and economic consequences of implementing changes in public policy.
Your textbook proposes several solutions for maintaining the solvency of the Social Security administration.
Select one solution from the textbook that you believe might be effective.
Using the Social Security Administration Web site (www.ssa.gov) and the Argosy University online library, research the arguments made in support of this solution.
Social Security in the United States averages to about 40 percent of the citizens’ wages. This is two-thirds of the international average, which is about 60 percent (Macionis, 2009). In addition, politicians in the United States want to cut benefits further. Keeping this in mind, respond to the following:
Explain reasons for the disparity in Social Security between the United States and other industrialized countries.
Discuss whether cutting benefits is a good policy decision for the United States.
Give examples and reasons in support of your response.
Provide appropriate justification for your analysis.
Write your initial response in 200–300 words. Apply APA standards to citation of sources.
Solution PreviewDespite the Social Security having a trust fund likely to last for around 20 years, it is running significant cash-flow deficits. The deficits are as a result of the increasing number of retirees while that of individuals paying into it is reducing….