Crisis: The Role Of Social Security In America

Since Franklin D Roosevelt created the Social Security act in 1935 after the great depression many Americans have depended on it as their only source of income after they retire. People were not overwhelmed with worry about saving for retirement because the act had been considered a great success for many years. A survey of 1,200 people done through AARP “confirms that Social Security is at the very core of most Americans’ retirement” (Pianin, 2015). However in recent years worry about retirement and social security has been on the rise for many aging Americans. According to a Gallup Survey recently published “66 percent of Americans believe Social Security is in a “state of crisis,” while slightly more than half of those still working doubt they will ever receive Social Security benefits” (Pianin, 2015).
Also if they are doing any additional saving outside of their Social Security contributions. Germany and the United States have a more positive outlook on social security than Italy does. Out of those polled 20% of Americans think they will receive social security as it is now, and 11% of Germans feel the same way. However Italians have a grimmer outlook and only 7% think they will receive social security as it is now. All three countries had higher percent’s when it came to thinking they would receive a reduced amount of social security with 31% of Americans, 45% of Germans, and 29% of Italians. While the United States was more optimistic than Italy about receiving social security, more Americans (41%) than Germans (29%) thought they would receive no benefits, and Italy (53%) had the highest amount of people say they do not think they will receive any benefits. ("Family Support in Graying Societies,"