Status
"In 1940, benefits paid totaled $35 million. These rose to $961 million in 1950, $11.2 billion in 1960, $31.9 billion in 1970, $120.5 billion in 1980, and $247.8 billion in 1990. All figures are in nominal dollars, not adjusted for inflation. In 2009, nearly 51 million Americans received $650 billion in Social Security benefits."
Currently, we still have Social Security in place as a major institution in America. It is a subject of much debate in the political sphere and the government is constantly being pressured to improve and enhance the program to benefit us further. While many are content with the system today, many more rally for improvement or removal of the system all together. George W. Bush was in favor of privatized accounts, so the tax payers would not have to pay for others security, while Obama is in favor of the system being paid for through the people.
"For many of these Americans, Social Security is a key source of income. In fact, for more than half of Social Security recipients aged 65 or over, the program provides over 50 percent of their family income and, because of its lifetime income protection and survivors benefits...
Because of features like survivors benefits, Social Security is one of the largest antipoverty programs for children, and disability benefits also help younger workers and their families and are particularly important to minority communities." ("Social security").
"For many of these Americans, Social Security is a key source of income. In fact, for more than half of Social Security recipients aged 65 or over, the program provides over 50 percent of their family income and, because of its lifetime income protection and survivors benefits...
Because of features like survivors benefits, Social Security is one of the largest antipoverty programs for children, and disability benefits also help younger workers and their families and are particularly important to minority communities." ("Social security").