Social Security We will be discussing background, issues, costs, the impact on future, and political viewpoints of major parties. ENJOY! By: Kevin Tosi, James Bridgman, Keith Brockway, Peter Van Eijk

Budget 727 Billion dollars in debt for Social Security Second largest budget item Almost one fifteenth of our national debt Social Security has gone deep in debt because people are living around 20 years longer than thought when it was made.

Issues People are currently being paid Social Security if they are 65 and over and retired. Most Americans depend on this money because it's their only income. People worry that there will come a time when there is not enough money to pay everyone what they are owed. If this happens, that would increase our country’s debt.

Democrats view on Social Security Everyone should receive full benefits of Social Security no matter how the economy is doing. Committed to protecting Social Security Don't want to privatize Social Security Don't want the to raise the Social Security age

Republicans view on Social Security Young should invest retirement money, not give it to goverment. (Nov 2011) No payroll tax cut; we need revenue from baby boomers. (Nov 2011) Keep promise to older workers; reform for younger. (Sep 2011) Wean everybody off Social Security and Medicare. (Feb 2010) Wean the next generation off Social Security. (Feb 2010)

Social security background Made in 1935 was part of new deal plan Keeps 40% of people over 65 out of poverty Was made when life expectancy was Now it is 78.37

Impact On Future Fund will run out by 2036 without legislative action Benefits may be cut 27% by 2041 In 2009 the surpluses that congress borrowed from other programs were depleted

What treasury wants to do Print more money. Sell bonds to the public Raise taxes

Fact about Social Securiy Must work at least 10 years to be eligible for social security

Bibliography Bank Rate New York Times Washington Post Wikipedia