Summary
A recent letter writer ("No new entitlements," Feb. 8) thinks that Social Security is an entitlement program. It is not. It is a system of insurance for the health and safety of the American people that was put into law the last time the country was put into a depression. That was in 1929, what is called the Great Depression.
President Franklin Delano Roosevelt saw that an annuity for people in their old age was needed for their survival and enacted the Social Security program. It is financed by payroll deductions. It is individual insurance.See the full content of this document
Extract
Not an Entitlement
He knew bankers and insurance agencies would pillage it (look at what happened to 401(k) programs since 2006) and dev...
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