Future State Of Social Security As A Government Program - Case Study Example

Future State Of Social Security As A Government Program I. Introduction Project Description My case study will focus on the study of the current, and future state of Social Security as a government program and the reasons as to why this type of government insurance should become mandatory rather than compulsory for its members. My case study will concentrate on the difficulties that the system has with continuing to cover the needs of its members due to the tight fiscal situation that exists in the United States today. A brief history of the American social security program will be included in the paper because it is important to understand the company history before we delve deeper into what has caused the financial problems of this particular welfare system. These cause and effect relationships between its history as a system, the way it works within the government, and how the members actually gain benefits from the program will also be discussed. Finally, the study then focus on the reasons why and the benefits that the people who are members or who are due to become members of the system will have once the membership to the system is made optional for most. I shall use the MLA format for this study and use properly formatted in text citation, quotes, paraphrases, and bibliography. Rationale Social Security has been an integral part of the American welfare structure for many decades now. That is not to say however that is services and financial support of the American people who are members of the system has been above excellent. Rather, the company has always experienced problems with collecting and manipulating its funds for the benefits that its members are receiving. Although the intention of the system if good, the method by which it is implemented leaves plenty to be desired. Today, the social security is known to be on the verge of bankruptcy and the politicians have acknowledged that it is a big problem that needs restructuring in order to repair the broken system. It was Republican senator Marco Rubio who said that “But here's what I would tell people of my generation. I turn 40 this year. There isn't going to be a Social Security. There isn't going to be a Medicare when you retire. Forget about what your benefit is going to look like. There isn't going to be one if we don't make some reforms to save that program now.” It is this understanding that has led many leaders to believe that in order to survive, social security must be turned into an optional program for it members rather than mandatory. This case study shall be written in terms of someone who has had previous experience with the inner working of social security, yet through provide suggested solutions to the problem based upon the feelings, understanding, and needs of the members of the system. It shall thoroughly present the situation of the company and confidently describe the future of social security if changes are not made to the program immediately. II. Qualifications My studies in the field of business management and accounting has helped me to understand the financial requirements of the Social Security program. I have taken classes relevant to the case study that I plan to undertake and will be using both my academically gleaned theories and concepts in the creation of my case study. I have also worked on a research paper based upon the South Korean version of Social Security in the past. By having experience with Korea's social security programs, I will be able to effectively compare and contrast the two types of social security and analyze what works and what does not for the system. I have an advantage over the other researchers in this aspect because I will be able to mention other types of social security in relation to the American version and point out what parts of those systems might work for the American program once it is restructured to become optional as well. III. Work Plan March 8 Outlining of case study topics and requirements March 9-25 Collate and read all necessary reading material on social security. Continue searching for other possible source materials. March 26-31 Create the first draft of my case study April 1-2 Draft revision April 3-7 2nd Draft writing April 8-9 Draft editing for possible final version April 10-11 Final revisions to the paper and case study binding April 12 Delivery of final case study IV. Cost Cost Table Materials: Paper $ 5.00 Pens $ 1.00 Post Its $ 2.00 Library Fee $ 10.00 ----------------------------------- Total Cost $ $18.00 Labor: Personal Labor Cost 50 hrs @ $10/ hr = $500 Administrative Expenses: Binding Case Study $15.00 General Office Use Fee $50.00 Covers electricity and computer use ---------------------------------------------------------------------- Total Administrative Expense $65.00 Travel Expenses: Apartment to Library 7 miles/trip * 8 trips @ $4.85/ mile $27.16 Apartment to campus 10 miles/ trip *1 trip @ $4.85/mile $ 4.85 --------------------------------------------------------------------- Total Travel Expense $32.01 Total for Case Study $615.01 V. Conclusion My study on social security will focus on key areas that will help current and potential members develop a better understanding of how social security works what social security is all about. I will present the lay readers with options pertaining to continuing or opting out of the social security program and the pros and cons of such actions. Oftentimes, the social security program is seen as a Ponzi scheme which is one of the main reasons that people give for its constant failure to adequately provide for its members. The company financial failures over the past decades have a deeply rooted source in the way that the program has a direct relationship with the fiscal budget of the federal government. This case study will give the readers the idea that maybe, just maybe, opting out of the system and instead, investing in other programs related to social security might be the best option for them instead. VI. Preliminary Bibliography “History of Social Security”. Social Security Reform Center. socialsecurityreform.org. n.d. Web. 3 Mar. 2013. Matthews, Merril. “The Under 30's Should Demand an Opt Out of Social Security”. Views. forbes.com. 11 Nov. 2011. Web. 7 Mar. 2013. 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