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What is The Future of Social Security

NOTE : Be sure to read this entire page before you begin your post

Assignment

After reading the lecture materials, text, and investigating the links provided below, tell us your thoughts regarding how we should solve the social security issue. As always, cite your work.

Include: each of the items below for full credit.

1. Do you still believe what the media reports about Social Security's solvency? Why or why not?

2. What actions would  you favor ?
    

3.  What happened to the pre-funding monies the Social Security Administration created? Why were they created? Where are they now?
    

4. What do you think the results would be if  we invested a portion of Social Security in the stock market or private accounts? Be sure to view the link from AARP. 

   • Be sure to consider the market's ups and downs (check out the web for articles on 'The Emotional Cycle of the Market'), retirement timing, and what you learned about the prediction of the financial well-being of elders in the future. Do you recall the prediction that tomorrow's elders will not be as well off as today's? Why is that? 

5. Include your response to the social security game listed below:

Research and Background

• Try this quiz first: If a password box pops up, just hit cancel. You might have to do it several times before it stops. http://www.actuary.org/socsec.asp
   
  • You might also want to read what others are saying about this game  http://www.early-retirement.org/forums/f28/fixing-social-security-game-25207.html
     
  • How did you do? Tell us  your thoughts regarding the pros and cons of each suggestion in this week's posting. Any ideas why there is no option that would include the U.S. Government's repayment of monies owed to the trust fund?  
     
• Now, try your hand at this game http://socialsecuritygame.actuary.org/

• Here is also a link leading to articles regarding Social Security. See if you can find out how the experts are suggesting we can strengthen Social Security.

  http://thehill.com/blogs/congress-blog/economy-a-budget/128567-strengthening-social-security-for-the-long-run

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As always, there are two sides to this debate. The liberal view and the conservative one.  Generally speaking, the liberals think government is good and should help people, the conservatives generally think government should have limited involvement in welfare or programs for the poor. They favor business growth and development. (NOTE: These links were hot when I posted them- If you find a broken one please send me the URL of both this page and the broken link. Thanks- Sue )

• This site explains the liberal view (against privatization) http://socialsecurity.ourfuture.org/
• Here is one site that explains a more conservative view http://www.socialsecurity.org
• For a good overview of both sides see this site http://www.ssa.gov/OACT/TRSUM/trsummary.html

Optional Reading

Here are some in-depth articles for extra reading (optional) 

Christian E. Weller, "Raising the Retirement Age: The Wrong Direction for Social Security" (Fall,2000)
http://www.epinet.org/content.cfm/briefingpapers_raisingretirement_raisingretirement

http://www.house.gov/paul/tst/tst2004/tst102504.htm

 http://usgovinfo.about.com/library/weekly/aa101500b.htm  (start "Where did the Surplus Come From". http://www.usatoday.com/news/nation/2004-10-03-debt-cover_x.htm

Be sure to ground your opinions in facts you have learned from reading and researching the web. You will not be given credit without good data to support your ideas. Be careful not to produce WAGS -- if you do tell us they are your 'opinion.'

Don't forget about your FINAL Research!!