What You Need to Know About Social Security

Congress is currently debating to make serious cuts in Social Security.  Some analysts in Washington believe that the cuts are necessary to help the country out of its economic downturn.  However, any changes in the program will severely affect all recipients, particularly African-Americans.

Social security is a federally funded program that provides financial support for retirees, disabled individuals and dependent survivors.  It was signed into law in 1935 under President Franklin Roosevelt’s New Deal to provide for a stronger security blanket following the Great Depression, when poverty among senior citizens exceeded 50 percent.  Social Security is one of the largest government programs in the world, paying out billions of dollars every year.

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