Six days later, the Supreme Court upheld the old-age-insurance provisions of the Social Security Act.
Congress rejected this 1937 proposal and turned against further New Deal measures, but not before the Social Security Act creating old-age pensions went into effect.
We are for a provision that destitution should not follow unemployment by reason of old age, and to that end we have accepted Social Security as a step toward meeting the problem.
Raise the age for Social Security gradually beginning with people currently 55 years old.
To some 36 million people, nearly one American in every six, the Social Security system now provides a monthly check promising that old age, widowhood or disabling injury will not throw them into poverty.
Just as there is less stigma attached to financial problems, so the rise of Social Security and Medicare has sharply reduced the financial uncertainty of old age.
It should be immediately apparent that implementing this policy will require fundamental changes in welfare and social security programs, and in all three of the big old age programs, both on the spending side and the revenue side.
In 1975 -- by no coincidence the first year that benefits were indexed to inflation -- Social Security's pension fund, whose formal title is Old-Age and Survivors Insurace (OASI), paid out more than it took in.
No matter: the elderly, and many of the young, have been convinced that they have a right to Social Security payments high enough to maintain a comfortable standard of living despite old age, widowhood or disability, and this right is every bit as inalienable as the rights to life, liberty and the pursuit of happiness.
Congress began trying to provide old-age insurance for something close to 100% of the population as early as 1939, before the first Social Security benefits were paid.
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