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Article: Social Security, History and Operations
- Article from:
- Encyclopedia of Aging
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CopyrightCOPYRIGHT 2002 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SOCIAL SECURITY, HISTORY AND OPERATIONS
Enacted in the midst of the Great Depression of the 1930s, Social Security
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the Old-Age, Survivors, and Disability Insurance program (OASDI)
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protects virtually every American. The nation
’
s central retirement income program is also its most important disability and life insurance program. After discussing the historical development of Social Security, this entry briefly describes the structure of the program, including revenue sources, benefits, and its importance to different groups of Americans. Contemporary Social Security policy issues are then identified.
History
In seeking to provide widespread and basic protection ...