August 14 - The Social Security Act

This Day in History: 14 August 2020

 

14 August 1935

 

85 years ago, today, President Franklin D. Roosevelt signed the Social Security Act into law. This historic act guaranteed an income for the unemployed and those retired. Roosevelt commended Congress for what he considered to be a 'patriotic' act. He also expressed concern for the young people who had to worry about finance when they came to old age, as well as those who had employment but no secure job. Although he acknowledged that the government could never protect the population completely, he hoped the act would prevent senior citizens from poverty.

 

Roosevelt had taken the leadership of the United States in 1932 in the midst of the Great Depression, the nation's worst economic crisis. The Social Security Act was in keeping with Roosevelt's other 'New Deal' programs, including the establishment of the Works Progress Administration and the Civilian Conservation Corps. This attempted to pull America out of the Great Depression by putting Americans back to work. Today, Social Security now functions primarily as a safety net for retirees and the disabled, although it was initially created to combat unemployment. It has also remained relatively unchanged since 1935.

 

Want to find out more about the Social Security Act? Click here for more information, or here for more about the first Social Security cheque.