Life for Americans Before Social Security Wasn't Pleasant.

Life for Americans before social security wasn't pleasant. The employment rate, pensions, the stock market, and savings were destroyed. Many older Americans and families with children, found themselves suddenly in an shockingly economic freefall. Before social sercurity, most old people were poor. On the other hand some older Americans that owned land did well, until their health turned bad. Older workers sank into an economic deprivation because they were forced to survive on economic resources other than there jobs in the market economy. The older Americans typically had to be taken care of by their children. They relied heavily on their families. The Depression swept this world away. Many of the elderly could no longer find work and became so miserable. Those who had been lucky enough to have a pension or some savings saw them disappear. And many who relied on their children saw them buckle under the strain. Life for Senior Citizens in America before Medicare was terrible, miserable, and difficult. Elderly Americans would have to work without pay, and in return they would provide them with food, shelter, clothing, and health care. Many elderly Americans became very sick and had no medicare to take care of them. So families had to work more just to support there illness. But do to the economic depression there wasn't much work. Social Security implemented during the aging nation and is still necessary today based on the savings rates of baby boomers and the future of private pension plans. Boomers tended to think of themselves as a special generation, very different from those that had come before. Boomers need social security today, as well as during the aging nation because of there retirement. During the aging nation, baby boomers retirement became a public concern because of the budgetary pressures that developed when baby boomers began to collect Social Security and Medicare benefits. The future private pension plans weren't accumulating enough private savings to finance their retirement for the baby boomers. The age dependency ratio as baby boomers retire will increase and will threaten social security because as baby boomers live longer the demand will over exced the supply Over the next decade Social Security will most likely some potentially dramatic changes. These changes will effect many Baby Boomers. Baby Boomers need to prepare for worst case scenario or at least a bad case scenario when it comes to Social Security. Currently baby boomers can retire at age 62 and start to receive a reduced benefit. This age could change in the future. Reducing benefits is something that could hurt a lot of Baby Boomers. However, some baby-boomer households have so far failed to accumulate significant savings. They beleive to depend entirely on government benefits in retirement, which is terrible. Social Security was controversial when originally proposed, that it would cause a loss of jobs. However, proponents argued that there was a solution that was proposed to save the social security system. In fact an advantage was that older workers would retire, there for it would create opportunities for younger people to find jobs, which would lower the unemployment rate. The Social Security system is currently designed to go bankrupt at some point within the next 40 years. To save the system, we the people must act now. The sooner reform is implemented the better off the system is going to be. The Social Security Trust Fund is strong financially, but the longer reform is dragged out, the less solvent becomes. If action is not taken before Social Security is on the edge of bankruptcy, there will be much less money to work with. Another solution would be to change the eligibility date. Consider privatizing a portion of the Social Security Trust Fund. This idea frightens many people, but it might increase the return on the money in the Social Security Trust Fund and help to "save" the social security system.