Social Security

Definition

Social Security is a government program that provides financial support to retired and disabled individuals through taxes collected from current workers. It was introduced by President Franklin D. Roosevelt as part of his New Deal reform in the 1930s.

Related terms

Medicare: This government program provides healthcare coverage for people who are 65 years or older.

Medicaid: A joint federal-state program that assists low-income individuals and families with medical costs.

New Deal: The series of programs implemented by FDR during the Great Depression aimed at economic recovery, relief for citizens, and reforms to prevent future crises.