Opinion
Opinion

Social Security at 90: A Brief History of America’s Sacred Cow

Social Security at 90: A Brief History of America’s Sacred Cow
Social Security records worker sets up wage records, in Baltimore, M.D., 1937. Library of Congress
David Rose
&
Thomas Savidge
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Commentary
On Aug. 14, 1935, President Franklin D. Roosevelt signed the Social Security Act into law. The program was designed to give private sector retired workers old-age benefits. In the ninety years since, the program has grown in both size and scope. It is currently the single largest expenditure in the federal budget, and nine out of 10 Americans age 65 and older are receiving a Social Security benefit.
David C. Rose is a senior research fellow at the American Institute for Economic Research (AIER), an emeritus professor of economics at the University of Missouri-St. Louis, and a member of the U.S. Commission on Civil Rights. He was formerly senior fellow and vice president for curriculum at the Common Sense Society. For 14 years he was president of The Discussion Club. He is also creator of Cooperation Civics and co-founder of the American Civics Academy. He has a Ph.D. in Economics from the University of Virginia and a B.S. in Economics from Missouri State University.