1. Social Security Colin Mitchell, Lily Grogan, Declan Rockett, Natasha Nord

2. Background People pay a tax so they get money back when they are retired(65) Developed in 1935, and taxes were collected in 1937 because of the Great Depression. Many people were living on streets and did not have enough money to support themselves. http://www.youtube.com/watch?v=9_F FwbcAaI4 http://www.youtube.com/watch?v=9_F FwbcAaI4 The old people who were living on the streets could not get a job, because most of the work was hard labor, and they were not able to do it.

3. Issues People are living longer so they get more money back than they payed for There won’t be enough money left for retiree benefits because there are less workers helping more retirees.

4. Cost 20 percent of the budget, or $707 billion In 1998 the cost-of-living increase was 1.3% since then it has gone up to 5.8% and is expected to continue rising.

5. If this continues without fixing social securities issues, the deficit will become a greater issue, because we will need to borrow money from other countries. If this continues without fixing social securities issues, the deficit will become a greater issue, because we will need to borrow money from other countries. Taxes for working people will rise in order to pay for retiree benefits Taxes for working people will rise in order to pay for retiree benefits When the younger generation grows older we would not get a lot of money towards our retiree benefits. When the younger generation grows older we would not get a lot of money towards our retiree benefits. Impact On the Future

6. Democrat vs. Republican want to protect social security want to protect social security Gore proposed Retirement Savings Plus for a Baby Boomers generation Gore proposed Retirement Savings Plus for a Baby Boomers generation believe in saving money for social security believe in saving money for social security don’t want to raise taxes don’t want to raise taxes let workers choose if they want to invest their payroll taxes let workers choose if they want to invest their payroll taxes

7. Citations facts on great depression: http://wanttoknowit.com/when-did-the-great-depression-start-and- end/http://wanttoknowit.com/when-did-the-great-depression-start-and- end/ picture of workers: http://www.willisms.com/archives/2006/11/social_security_54.htmlhttp://www.willisms.com/archives/2006/11/social_security_54.html picture of chart: http://delong.typepad.com/sdj/2005/12/rev_spen_exss3.htmlhttp://delong.typepad.com/sdj/2005/12/rev_spen_exss3.html S.S. seal: http://crapo.senate.gov/services/SocialSecurity.cfmhttp://crapo.senate.gov/services/SocialSecurity.cfm info on cost: http://www.cbpp.org/cms/index.cfm?fa=view&id=1258http://www.cbpp.org/cms/index.cfm?fa=view&id=1258 cost pict #1: http://www.ncpa.org/pub/st252?pg=3http://www.ncpa.org/pub/st252?pg=3 cost pic #2: http://gatesofvienna.blogspot.com/2011/03/shadow-knows-part-two.htmlhttp://gatesofvienna.blogspot.com/2011/03/shadow-knows-part-two.html card: http://en.wikipedia.org/wiki/File:Social_security_card.gifhttp://en.wikipedia.org/wiki/File:Social_security_card.gif 65: http://www.wellheeledblog.com/2010/04/28/social-security-retire-2/http://www.wellheeledblog.com/2010/04/28/social-security-retire-2/ democratic view: http://www.issues2000.org/Celeb/Democratic_Party_Social_Security.htmhttp://www.issues2000.org/Celeb/Democratic_Party_Social_Security.htm republican view: http://www.issues2000.org/Republican_Party.htm#Social_Securityhttp://www.issues2000.org/Republican_Party.htm#Social_Security