Social Security in the U.S. is a program that provides insurance for senior citizens, the disabled and the survivors in the country. The program is funded by mandatory payroll taxes paid by workers. These payroll taxes are called the Federal Insurance Contributions Act. The U.S. Social Security Administration operates the program, with headquarters in Woodlawn, Maryland.

The establishment of the very first social security program in the United States can trace its origins way back into the Great Depression period during the 1930s. There are citizens who realized that veterans are in dire need of financial assistance, and the rate of senior citizens who are included in the poverty bracket reached more than 50-percent.

The practice of making provisions to help citizens financially in times of need, especially when one needs medical attention or disabled, actually originated Britain and not the United States. Britain had the Elizabethan Poor Law of 1601 that aims to help impoverished citizens.

The U.S. had no such act at first, because American tradition before stressed that people should support themselves and should be able to provide for their own needs. But the overwhelming number of disabled veterans after the Civil War prompted the creation of laws that will help veterans and their wives and children.

Social Security was signed into law as part of President Roosevelt's approval of the Social Security Act on August 14, 1935. Also called the Old Age Pension Act, it provided financial and medical benefits for retired and unemployed citizens. Before, the program was funded by payroll taxes, which where shouldered by both employee and employer.

The Social Security system in the country has undergone numerous changes, along with the change of presidents, since it was created. The benefits distributed to beneficiaries rose steadily, along with the rise of the amount of taxes contributed by the working citizens.

Several significant events in history have shaped what Social Security is in the country today. They are:

* A great part of the population moving from the countryside to the big cities
* Greater life expectancies among people
* The steady decline in the practice of keeping of the extended families

These events have made Americans more accustomed in the ways of city life, and thus, the number of people who lived with their relatives steadily decreased. These resulted to dramatic changes on the economic survival of Americans, and the changes in the Social Security in the country.

During the 1950s, more and more citizens were included among the beneficiaries of Social Security. The system was improved steadily. The cost of living allowance, or the COLA, was created as part of the benefits. Retirement ages were adjusted, and from 62, the early retirement age increased to 65.

At present, there are serious concerns regarding the future of Social Security in the United States, specifically its financial stability. President Ronald Reagan initiated the taxing of Social Security benefits in 1983, and more people are being given coverage. The amount of taxes being charged from benefits grows higher as time goes by, and the anticipated mass retirement of the Baby boom generation are expected to create huge demand for retiree benefits.