|1. Discuss the issue of solvency with Social Security|
2. Discuss the legislative history of Social Security
3. How does Social Security help Americans?
Social security plays a significant role in financial assistance in retired and disadvantaged people in the community. Social security fund has enabled low-income earners as well as disadvantaged Americans to have something to use during their old age (Purcell, 2015). The solvency of social security is a state where the trust fund can pay the beneficiaries on time as provided in the law. The legislative aspect of social security was introduced in 1935 by President Roosevelt. The paper will discuss issues with solvency with social security, the legislative history of social security, and how social security helps Americans.
Solvency with social security
Solvency with social security is a situation where the trust funds are available, and it can pay its benefits on time as stated in the law. Solvency is the long-term financial stability of an organization (Kashin, King, & Soneji, 2015). In light of this, it is expected that the program will have enough funds to pay the beneficiaries on time to avoid lawsuit issues. Social security should be managed with projections focusing ahead to ensure that the beneficiaries are gets the agreed amount without any delay (Purcell, 2015). It is apparent that key beneficiaries of this fund are low-income earners who do not have enough to save for the future, thus there only hope is social security. The law requires the social security program to have financial stability.