Lesson 50 pg. 139 - 140

Question 1

What was the Social Security Act?

Answer 1

> This American form of social insurance was enacted in 1935, when Congress approved the Social Security Act.
In return for making payments to the government, citizens are supposed to be insured to some extent against poverty in old age, the mounting medical expenses of later years, the cost of crippling personal injuries, the loss of parents during childhood, and other occurrences.
To pay for these insurance benefits, nearly everyone in the US who makes more than a certain amount each year must contribute a significant proportion of his income to Social Security, and employers must match the payments made by their employees.

Question 2

What is the Social Security Administration?

Answer 2

> The federal government, in cooperation with the Social Security Administration, uses the immense sums annually paid into the system for the government’s current expenditures, including the welfare system and its numerous programs.