Social Security: A Brief History

Part I of Essay
In the postwar era of the United States, during a time of economic downfall, set in the 'Great Depression', most Americans throughout the United States were struggling to get jobs, raise their children, and even put food on their own table. Bread lines were forming, Americ ....

Part II of Essay
.... a motion to change the name of the bill to the "Social Security Act of 1935." The motion was carried by a voice vote of the Committee. On August 14, 1935 President Roosevelt signed the bill into law at a ceremony in the White House Cabinet Room. From 1937 until 1940, Social Security paid benefits in the form of a single, lump-sum payment. The purpose of these one-time payments was to provide some "payback" to those people who contributed to the program but would not participate long enough to be vested for monthly benefits. Under the 1935 ....