The Future Of U.S. Social Security

The video discusses the history and current challenges of the U.S. Social Security system. Established in 1935, it provides a safety net for retirees, funded by taxpayer dollars. However, the fund faces depletion by 2034 due to demographic shifts, economic factors, and increased retirements. Potential solutions include raising taxes or retirement age, but legislative action is needed urgently to prevent benefit cuts.

What was the primary purpose of the Social Security Act signed in 1935?

• To provide healthcare for all Americans

• To ensure a fixed income for retirees

• To fund military operations

• To support educational programs

What is one of the main reasons for the uncertainty surrounding the future of Social Security funds?

• An increase in the number of young workers

• The aging population outpacing the number of children

• A decrease in the number of retirees

• A surplus in the Social Security reserves

How has inflation affected the Social Security Administration recently?

• It has reduced the number of retirees

• It has forced the largest cost of living increase in 40 years

• It has increased the number of young workers

• It has led to a decrease in retirement benefits

What is one proposed solution to address the Social Security fund depletion?

• Reducing the retirement age

• Increasing the payroll tax

• Decreasing taxes on the wealthy

• Eliminating Social Security benefits

What change is being considered regarding the retirement age for full benefits?

• Lowering it to 60 for everyone

• Raising it to 70 for everyone

• Keeping it the same for all age groups

• Increasing it for those born after 1960