This website uses cookies to ensure you have the best experience. Learn more

The Future Of Social Security Essay

908 words - 4 pages

Social Security Persuasive Essay
By: Cody Hudson
February 12, 2011
Ms. Neff

Social Security Persuasive Essay
For young Americans like me, retirement is an idea that does not seem relevant. For most young Americans retirement is so far off that it is not a major concern for individuals living in the here and now. The reality is that young Americans in their twenties and thirties should be very concerned. Young adults should not count on the government to support them when they retire. In this essay we will begin to understand why social security is not a valid retirement option. One will also learn how social security will decline in reliability and the options that the United ...view middle of the document...

According to New York Life (2010):
“According to the 2007 Social Security Trustees' Report, the program faces massive annual deficits in just 10 years. Coupled with a Congressional Budget Office report predicting Social Security and Medicare expenditures to increase around 75% by 2030, economists seem to have no certain answers now.
While today's retirees can probably count on receiving their Social Security benefits, future generations may not be so fortunate. This is largely due to increased longevity, costs of medical technology, and the impending retirement of the baby boomer generation (individuals born between 1946 and 1964)” (The Future of Social Security, 2010).
As one can see the stability of Social Security to continue to pay returns to individuals that pay into the system is very doubtful. When the baby boomers begin to retire over the next several years the government will begin to see a dwindling effect in social security’s surpluses.
The reason why social security is failing is due to simple finances, which are learned in grade school. Simply, social security expenses are greater than its income. The government for the past thirty years has been using social security as its own personal piggy bank. Recently social security reported surpluses that went to finance the Department of Defense’s B-2 bomber project (The Future of Social Security, 2010). The government borrows funds from Social Security by reimbursing the social security account with bonds.
“Through 2007, the Social Security trust fund held $2 trillion in bonds. When Social Security's expenses exceed its income, theoretically these bonds can be redeemed to meet current obligations. Beginning in 2017, the Treasury will need to begin...

Other Papers Like The Future of Social Security

Roosevelt and the Social Security Act

1067 words - 5 pages future depressions” (American Rhetoric, 2001). This was another way in which he used the effects of The Great Depression as rationale in passing the law. He also stated in his speech, “It is, in short, a law that will take care of human needs and at the same time provide the United States an economic structure of vastly greater soundness” (American Rhetoric, 2001). There was no question in Roosevelt’s mind that The Social Security Act was a great

Universities of the Future Essay

769 words - 4 pages Universities of the Future Universities progress as technology advances. A vision of Universities of the future is only possible with a vision of the technology of the future. With the current pace of technological growth it is almost impossible to imagine what is in store for the future of the university. It is exciting to think of what State U. will become in both the near and distant future. Laptops, wired classrooms, and

The Future Of Conflict

1424 words - 6 pages operated under the theory of M.A.D., or mutual assured destruction to keep the superpowers from destroying the world. Right now, the USA serves a hegemon for the rest of the international community. As long as we or any other hegemon can control the world arena, the likelihood for full scale war is greatly diminished. Another principle of realism that will secure peace in the future is collective security (Kegley and Wittkopf 2001 p.559). Right now

The Future Of Nursing

907 words - 4 pages The Future of Nursing Jennifer Mallion NRS 430V-109 September 18, 2013 The Future of Nursing Introduction In 1970 The Institute of Medicine was founded by the National Academy of sciences. The National Academy of sciences advises the federal government on issues involving medical care, education, and research. In 2010 the Institute of Medicine issued “The future of Nursing: Leading Change, Advancing Health.” The recommendations

The Future of Medicine

3121 words - 13 pages tax percentage much like social security or state taxes. That tax would go toward medicine and this would allow people to be taxed at a set percent that way everyone pays the same portion of their pay. Dr. Lawrence Huntoon also believes this to be an eventuality but in a very different way. While I see this as a stepping stone that came with growing pains, Dr. Huntoon had this to say, “ACA was designed to incorporate failure as part of the

The Future of Technology

836 words - 4 pages The Future of Technology Felbert M. Meriweather ITT Technical Institute] The Future of Technology When thinking of the future a person may wonder where they may be, who they will be with and what it is they will be doing occupationally but in the back of our mind we wonder what the world’s technology will be like. Technology is not just electronically but is also things that are made in the matter of improvement like tires that don’t go

The Future of Newspapers

650 words - 3 pages Alina Baganova A Comment on “The Future of Newspapers” “Nulla nuova, buona nuova” meaning no news is good news is a famous Italian saying. It may be true in the ambience of too much news disturbing nature pouring out from all directions without cease. Yet news is crucial for active life, it gives us the insight to the dynamics that form the environment around us, it be in local or regional or national or international level. Provided that

The Future of Nursing

923 words - 4 pages Running head: THE FUTURE OF NURSING The Future of Nursing Lara Gurule Grand Canyon University: Professional Dynamics: NRS-430V-O103 July 26, 2013 The Future of Nursing The future of nursing is reshaping as we know it. With a population on the rise in rural areas and not enough physicians to care for our growing population the Advanced Practice Nurse (APN) is the answer. Almost 25 years ago, an analysis by the Office of Technology

The Future of Books

2289 words - 10 pages The Future of Books Nearly 2,405,518,376 people in our world have access to the Internet; needless to say we live in a very technically inclined society. Almost every task that is preformed is done by using some sort of technological medium, whether that be a computer, smartphone, tablet, etc. We have the ability to access multitudes of information by the push of a button in something so small that it fits into the palm of our hands. I

The Future of Life

527 words - 3 pages declared. In February, these remarks became the basis of "The American Century," a still-famous five-page editorial in the pages of Life, in which Luce, as one biographer noted, "equated a happy future with American hegemony." The American Century, always an inflated notion, can now officially be declared over. Its demise is partly a result of American folly -- like the war in Iraq, which cost the U.S. its credibility with allies all over the

Energy of the Future

1630 words - 7 pages Brandon Hernandez ICSM: Writing About Survival Prof. Stafford December 13, 2012 Energy of The Future In today’s day and age roughly sixty percent of citizen of the United States get their electricity from fossil fuels. This is not too bad but this is still a problem due to the fact that it causes a lot of pollution from the burning of fossil fuels. Out of one hundred percent, wind energy is responsible for giving four percent of the

Related Essays

The Future Of Social Security Essay

1076 words - 5 pages The Future of Social Security Paula Allen COM 156 December 11, 2010 Joy V'Marie The Future of Social Security Social Security will not meet the needs of the younger generations in retirement because the depletion of funds in the Social Security trusts. The age requirement is predicted to rise to 70 by 2037 for those who can draw full benefits. There are people who survive on their monthly benefits from Social Security, but how long

Cloud Computing Security Architecture The Computing Model For Future James Alwyn Durai Xavier

3121 words - 13 pages Cloud Computing Security Architecture The computing model for future James Alwyn Durai Xavier1  Abstract—In the recent years there is an increasing interest among the researchers on security aspects of the cloud computing model. This is primarily because of the evolution of this new computational model, but mainly due to the advances in the technology which brings more threat and challenges to the society at large. In this paper we are

“The Soviet Union Developed Its Influence In Eastern Europe In The Years 1945 1949 Because It Wanted To Guarantee Its Security In The Future”. How Valid Is This Assessment?

1241 words - 5 pages states in Eastern Europe was essential to “guarantee its security in the future”; thus, after 1945, Stalin needed to ensure the countries of Eastern Europe were friendly with the USSR. This defensive stance was also a reflection of Stalin’s cautious approach to the conduct of foreign policy. His previous experiences had taught him to trust no one and proceed with vigilance, and therefore had always been suspicious of the USA and Britain: the

Is The Social Security System Broken?

1563 words - 7 pages on Social Security every year. Over the next many years, the number of retirees is anticipated to grow more quickly than the number of people whose taxes will pay for future benefits. Because of this, the number of employees supporting each Social Security beneficiary is estimated to fall from 3.3 nowadays to 2.2 in 2041. When evaluating these figures with those from 1950 (when there were sixteen employees for every one beneficiary), the