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Because Social Security tax receipts and interest exceed payments, the program also reduces the size of the annual federal budget deficit commonly reported in the media. For example, CBO reported that for fiscal year 2012, the "On-budget Deficit" was $1,151.3 billion. Social Security and the Post Office are considered "Off-Budget".
Social Security debate "Starve the beast" Subprime mortgage crisis; 2007–2008 financial crisis. ... If workers and employers each paid 8.0% (up from today's 6.2% ...
This idea was later popularized by Francis Townsend in 1933, and the influence of the "Townsend Plan" movement on debate over social security persisted into the 1950s. [5] [6] Early debates on Social Security's design centered on how the program's benefits should be funded. Some believed that benefits to individuals should be funded by ...
Supplemental Security Income (SSI) recipients might soon get bigger monthly payments if the Social Security Administration succeeds in pushing through a proposed change in how benefits are calculated.
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The first Social Security office opened in Austin, Texas, on October 14, 1936. [10] Social Security taxes were first collected in January 1937, along with the first one-time, lump-sum payments. [8] The first person to receive monthly retirement benefits was Ida May Fuller of Brattleboro, Vermont. Her first check, dated January 31, 1940, was in ...
1980 - Social Security Disability Amendments of 1980, ... Social Security debate (United States) References. Kollman, Geoffry and Carmen Solomon-Fears. 2002.
Social Security Act of 1935; Other short titles: Social Security Act: Long title: An Act to provide for the general welfare by establishing a system of Federal old-age benefits, and by enabling the several States to make more adequate provision for aged persons, dependent and crippled children, maternal and child welfare, public health, and the administration of their unemployment laws; to ...