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Reply #9: True. IIRC, that's where we got Social Security [View All]

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FBaggins Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-07-09 08:14 AM
Response to Reply #6
9. True. IIRC, that's where we got Social Security
The Great Depression spawned similar circumstances. Older workers holding on to jobs because they couldn't afford to retire (a far less common concept at the time).

Roosevelt created Social Security not just to provide an income for the elderly... but also to get some of those elderly to give up their jobs and retire - clearing those positions for younger workers who had been unemployed for some time.

I wonder how much of out current unemployment rate is accounted for by older workers who would have retired in the last two years but simply can't afford to now?
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