In 1935, President Franklin Roosevelt created Social Security, an insurance contract between Americans and the federal government that pays out on certain life events. As a financial safety net, social security protects Americans from what Roosevelt called the “hazards and vicissitudes of life.”
Roosevelt’s plan has been vital to the American people, and has delivered payments on time, for generations. Today, 180 million employees are paying in, and 87 million people are receiving retirement and disability benefits under the program.