Historical Background and Development of Social Security (ssa.gov)

[pinto]

This is a great overview - not only of Social Security as we know it, but historical economic security systems over time. A good reminder that no system is "perfect" from the outset, but often lays the foundation for future improvements.

Pertinent in our ACA debates, imo.

http://www.ssa.gov/history/briefhistory3.html

Traditional Sources of Economic Security

All peoples throughout all of human history have faced the uncertainties brought on by unemployment, illness, disability, death and old age. In the realm of economics, these inevitable facets of life are said to be threats to one's economic security.



The Social Security Act

In early January 1935, the CES made its report to the President, and on January 17 the President introduced the report to both Houses of Congress for simultaneous consideration. Hearings were held in the House Ways & Means Committee and the Senate Finance Committee during January and February. Some provisions made it through the Committees in close votes, but the bill passed both houses overwhelmingly in the floor votes. After a Conference which lasted throughout July, the bill was finally passed and sent to President Roosevelt for his signature.

The Social Security Act was signed into law by President Roosevelt on August 14, 1935. In addition to several provisions for general welfare, the new Act created a social insurance program designed to pay retired workers age 65 or older a continuing income after retirement. (Full Text of President Roosevelt's Statement At Bill Signing Ceremony.)

"We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."--

President Roosevelt upon signing Social Security Act

Major Provisions Of The Act

The Social Security Act did not quite achieve all the aspirations its supporters had hoped by way of providing a "comprehensive package of protection" against the "hazards and vicissitudes of life." Certain features of that package, notably disability coverage and medical benefits, would have to await future developments. But it did provide a wide range of programs to meet the nation's needs. In addition to the program we know think of as Social Security, it included unemployment insurance, old-age assistance, aid to dependent children and grants to the states to provide various forms of medical care.

<much more at> http://www.ssa.gov/history/briefhistory3.html