While Social Security was first introduced in Europe, it is the 1935 law passed by the U.S. Congress that citizens are most familiar with. The initial purpose of the Social Security Act was to provide cash benefits to retired workers in commerce or industry. In 1939, Congress amended the act to include benefits for dependent children of retired workers and widows and children of deceased workers. In 1950, the act began to include farm and domestic workers, non-professional, self-employed workers, state and municipal employees. In 1956, the Social Security Act became universal. The major purpose of social security is to distribute income over time. Albeit whether it is in Rome, Indiana or Rome, Italy, all working individuals are entitled to these benefits. There are many issues regarding the future of Social Security and whether or not there is a need for privatization. According to the findings in this paper, Social Security is not on the verge of bankruptcy and other alternatives such as privatization may be a bit premature for the United States.
             It is not difficult to understand why Social Security is our country's most popular government program. Prior to its inception in the 1930's, more than half the nation's elderly lived in poverty. The program was designed as a social (old-age) insurance plan which provides a guaranteed income to retired and disabled workers whose loss of wages promises an uncertain economic future. Emphasis should be placed on the word "guaranteed", as this is the issue in contention when considering reform propositions.
             Social Security, as we know it, ensures an acceptable standard of living for all citizens, and provides a safety net for those who, due to age or disability, are no longer able to support themselves by labor. Its benefits are, as stated by author Joseph White, "guaranteed, adjusted annually to account for inflation, paid for as long as the recipie...