Posted on 08/14/2025 3:15:31 PM PDT by Nateman
I seem to recall reading somewhere that FDR bragged about how long his Social Security program would last. I've been (so far) unable to find any of his quotes on this.
Here is the story of the first recipient. Note that the “experts” planned the system’s financing saying “There is no reason to expect that more than a handful of people will live beyond the age of 65.”
Life expectancy average was 62.9 years and for women only it was 65.2 years at that time.
Not worthy of what you need but here is a brief article.
Social Security differed from other New Deal programs in that it wasn’t a short-term solution to the Great Depression. It was a long-term investment.
https://www.history.com/articles/social-security-history-fdr-new-deal
The Social Security and Medicare funding crisis will be solved by the implementation of a European-style value added tax (VAT). Neither party will allow 70 million seniors to take a 25% cut in benefits. Most Freepers receive S/S benefits btw (and Medicare). Like everyone else, they will hold their nose and let it pass. Any bets??
This has a Fireside Chat and other pronouncements. Maybe will help.
https://www.ssa.gov/history/fdrstmts.html
“It was a long-term investment.”
When a robber puts a gun to your head and takes your money just remember....
“It was a long term investment.”
My bet would be on just increasing the government deficit to the sky—until the music stops.
When SS was birthed the life expectancy for a man was 65.5 years. Neither FDR nor Congress envisioned SS lasting more than a couple of years tops. Families took care of senior members so SS was supposed to help with their expenses. Plus it was never envisioned to be more than a basic supplement to personal savings. The notion of SS as a full income is a LBJ invention
I really doubt that FDR considered the effect of FEMINISM on Social Security.
Me too
The program would be flush with cash if invested. Instead the pols spend it and throw an IOU in there at 3% or so.
Probably so much it could oay off the national debt.
Yes. What a “hero” FDR was. We’re unable to extricate ourselves from his programs all these years later.
Like welfare as a “bridge” with the sad worker trying to reach the dignity of being employed again and respecting himself or herself as they get to the other end of the welfare bridge.
Paul Harvey once had a talk where he said people used to be ashamed of having to accept welfare or unemployment money (shamefully going “on the dole”) and tried to hide it from relatives and neighbors and the people at church. Now as he said they are called entitlements and people loudly demand “Where is my government money? I am entitled to it.”
After reading the book it’s a wonder we even survived the Great Depression he shoved us into.
Human nature is what it is.
What gets me frosted is the reification of the collective—using the “we” as the excuse for evil acts of all kinds.
In FDR’s time people began receiving benefits without paying much in. It’s buying votes.
Congress raised benefits too high relative to contributions. Thank Claude Peppers.
Just throw illegal aliens, not undocumented migrants or illegal migrants
migrants or newcomers, off Social Security and Medicaid and they would
last for a much longer time. To me the Demoncrats ...I mean Democrats ploy
is to let those 10+ millions of illegal aliens in, give them free stuff,
let them vote and they will then seize control of the US forever.
You can find his statements here:
https://www.presidency.ucsb.edu/documents/statement-signing-the-social-security-act-0
and here:
https://www.ssa.gov/history/fdrstmts.html
I doubt he made any predictions on how long it would last.
In those days, people married, had large families, and didn’t live long, so the prospects would have seemed good for Social Security. Different generations lived together under one roof, so Social Security would be a supplement to savings and to what younger family members earned.
There would have been no reason why FDR would think that the system would collapse at some point. Social Security did a lot to break up the very social and economic conditions that made it seem like a good bet at the time, but few foresaw that in the Thirties.
Good point on life expectancy changes. Also is the push to a “nuclear family” because of the “population explosion” myth, which undermined having future payees into SS.
That’s the problem right there. Nobody should get more than they put into the system. Ensure interest is added. Once they go through the balance, they need to use their investments.
It was presented as a permanent arrangement. Part of a new deal you might say.
A dollar still meant something back then. 5 and dime stores were still a thing.
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