The Revolution and Development Tendency of the Social Security System in USA_revolution指弹吉他谱

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The Revolution and Development Tendency of the Social Security System

The modern Social Security system derives from the programs contained in the 1935 Social Security Act.The system covers almost every part of the Americans’ life and nearly each family of the society.Americans think of the Social Security as “Golden Calf” and “Sacred” of life guarantee and poverty alleviation(Deng 219).From the original program to the modern system, there were some important revolutions.At the beginning, the program contained only the unemployment compensation and the old-age retirement insurance.After WWII, with the development of national economy, more projects were added into the program forming a relatively complete system.However, in the last part of 1970s, the US, like other countries in the world experienced economic crisis.Since then, the system has been facing huge problems brought by inflation, oil crisis and baby boom.The first problem is the increasing expenditure of the Social Security, which lies hard upon the government finance.The healthcare costs in 1985 covered only 5.9% of the GNP, but the proportion had become 14% by 1992(Huang 263).The second problem is the negative effects of the complete security system.With the adding of projects, various social security institutions sprung up, which caused bureaucracy and inefficiency.The high level of the social security also reduces the national working enthusiasm.Some Americans are not willing to find jobs.They just live on the social security.The third problem is the fear of deficit and bankrupt of the program.In 1950, the working population to retiring population was 16:1(Carter and Shipman 14).Because of the baby boom, the estimated ratio in 2014 will decrease to 2.7:1(Carter and Shipman 14).This means that le young people support more old people.The X generation believes the existing of UFO more than getting money from Social Security system(Credibility 1).To solve these problems many efforts was put into the revolution of the Social Security from 1970s to 1990s.The revolution can be concluded into four parts:

increasing the retirement age to 68 or 70;

making more strict payment condition;

changing financing modes, abolishing pay-as-you-go system;

deducting part of the payment, enhancing insurance rates and tax base.(Deng 230-233)

The revolution can only solve some of the problems, and new problems are facing the US government with the social transformation in the new century.The US government will keeping improving its Social Security system.Following are the poible development tendency of the Social Security system.The security mechanism will be diversified.The privatization of the social security will focus both on performance and fairne, duties and responsibilities.New annuity insurance may be brought out combining voluntary and involuntary saving.Wuhan：Wuhan University Pre, 1999.Beijing：China Social Sciences Pre, 1998.Marshall N.Carter, and William GLuntz Research Companies.“Social Security: The Credibility Gap,” summary of results of 8-10

September 1994.