Social security in the USA

(Morton et al, 2016. Pg. A comprehensive system to provide enough money to the weak was alarmed by the great depression of the 2030s since most of Americans were rendered jobless. In 1932, President Franklin Roosevelt proposed the idea of social insurance which eventually developed into the social security. The social security act was signed in August 1935 into the law with a view to benefit the aged, disabled and the retired as well. Social security has been altered although the structure of taxation and payments remains unchanged. Evidently, the full retirement age has been increasing gradually, with remarkable adjustments in the social security figures. The retiring age has recently increased from 66 years to 67 years of age. The latest expenditure data figures indicate a lower retire monthly expenditure compared to the household's expenditure.