10 Federal Programs That Failed Miserably
8. Social Security
Began in 1935 when President Franklin Roosevelt signed The Social Security act passed by congress as part of the president’s New Deal, Social Security is the nation’s effort to help make sure the old or indigent are not automatically destined to spend their remaining days in poverty. The system finances current retirees by withholdings from current workers. A program enacted with the very best intentions. No one wants to see old people or orphans starving or having to beg in the streets, but when a current worker, retiring in 2045, is estimated to lose upwards of $200,000 participating in the program, when does economics become more important than good intentions?
