The Future of Social Security
In
Economic Policy
By
Kyan Howe
Social Security—also known as the Old-Age, Survivors, and Disability Insurance (OASDI) program in the United States—is run by the Social Security Administration (SSA). The program is best known for its retirement benefits and is primarily funded (89.6 percent) by payroll taxes. The program also provides income to disabled people who qualify, as well as their family members. Workers must be at least 65 years old and have financially contributed to society for 10 years or more. The longevity of Social Security has been put under question as of late and this brief will attempt to address the conflict regarding Social Security (with a focus on its funding) as well as a recommendation for how it should be approached.