Introduction
Winnifred “Winnie” Murphy celebrates her 105th birthday in Chelsea, Mass., in 2014. Many of the 49 million retirees and their survivors who receive Social Security payments every month are living longer, financially straining the system. (Getty Images/The Boston Globe/Suzanne Kreiter)
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Social Security has guaranteed an income for retirees, their survivors and people with disabilities for more than 80 years. But the landmark New Deal program is paying out more in benefits than it collects in payroll taxes, and the problem is forecast to get worse. As millions of Baby Boomers — born between 1946 and 1964 — retire, the increasing demands on Social Security threaten to overwhelm the system. Some experts say the $2.8 trillion Social Security trust fund will run out of money within a generation without major changes. Among the proposals: raise payroll taxes, reduce benefits or shift some Social Security money into the stock market. But others reject major reforms and contend that minor adjustments, such as increasing payroll taxes on wealthier workers, would keep the system solvent. Democratic and Republican presidential hopefuls differ sharply over whether to drastically change the system, tweak it or even expand it to cover more low-income Americans. Regardless of who wins this year's election, the Social Security debate is expected to persist.
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Sep. 10, 2021 |
Social Security |
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Jun. 03, 2016 |
Social Security |
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Sep. 24, 2004 |
Social Security Reform |
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Oct. 02, 1998 |
Saving Social Security |
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May 12, 1995 |
Overhauling Social Security |
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Apr. 05, 1991 |
Social Security: The Search for Fairness |
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Dec. 17, 1982 |
Social Security Options |
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Jun. 29, 1979 |
Social Security Reassessment |
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Dec. 27, 1974 |
Retirement Security |
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Sep. 20, 1972 |
Social Security Financing |
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Dec. 14, 1966 |
Social Security Improvements |
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Mar. 28, 1956 |
Social Security for the Disabled |
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Mar. 26, 1953 |
Social Security Expansion |
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Aug. 17, 1951 |
Relief Rolls in Prosperity |
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Dec. 24, 1949 |
Pensions for All |
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Aug. 12, 1948 |
Security for the Aged |
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Apr. 11, 1946 |
Social Insurance |
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Mar. 02, 1944 |
Social Security |
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Dec. 02, 1939 |
Liberalization of the Social Security System |
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Oct. 01, 1938 |
Agitation for Pension and Scrip Schemes |
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Jul. 26, 1938 |
Revision of the Social Security Act |
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Oct. 02, 1936 |
The Social Security Controversy |
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Nov. 12, 1934 |
Federal Assistance to the Aged |
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Aug. 23, 1930 |
Public Old-Age Pensions |
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