Complete the following Module 2 Web Assignment for this module by the stated due date on the Schedule. Please submit in the Module 2 Web Assignment folder as a .doc, .docx, .pdf or .rtf file.
The web-based assignment for this unit considers social security. Over the next few decades, retiring baby boomers will increase outflows in the social security system. Will there be sufficient funds to keep social security going; and should it be kept going? The issue has become highly politicized, often obscuring facts about the system and limits to what we know about future economic data. In this Web Assignment, you look into Social Security currently and its possible need for reform.
Prepare a brief summary of the Social Security problem and potential solutions based on the questions below:
- How is social security currently funded?
- What happens to social security funds once they are paid into the system?
- What changes have been made to the social security system from inception to date? Are those changes adequate?
- When would you expect the Social Security system to begin to experience difficulties, if any? Why?
- What are the pros and cons of replacing social security with private funds? Do you support privatization or not support it? Provide arguments to support your side.
Here are some potential websites for you to review and utilize as sources. Please feel free to conduct a search yourself for additional reliable sources. Be sure to cite your sources utilized.
- Social Security Administration
- The 2016 Trustees Report
- Pros and Cons of Privatizing Social Security
- Cato Institute several articles provided on Reform under Cato Studies
- Shared Prosperity
- Proposal for Social Security Reform
You must cite your references properly according to MLA or APA guidelines. Even if the source is mentioned in the assignment instructions, you still need to cite and include it within your document.
Submit your completed assignment to the Module 2 Web Assignment folder in D2L. Make sure you use correct spelling, grammar, etc. Please see the Assignments Rubric for grading.
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