Those left with little income or assets are eligible for Supplemental Security Income (SSI) from the Social Security Administration (SSA). Visit www.socialsecurity.gov or call 1-800-772-1213.
Thanks for the tip RC!
Social Security Act of August 14, 1935
By 11:00 a.m. on the morning of October 24, 1929, the stock market started to plunge. Within three months, the stock market lost 40 percent of its value. America faced its worst economic crisis: Millions were unemployed, two million adult men wandered aimlessly around the country, banks and businesses failed, and the majority of the elderly could not afford to live independently. It took 25 years for the stock market to climb to its pre-crash level.
Every Man a King: Ironically, it was the Governor of Louisiana, Huey Long, who proposed radical measures to end economic plight. His program, called “Share Our Wealth,” demanded that the federal government confiscate the wealth of the nation’s rich and privileged. The program called upon the government to guarantee every family in the nation an annual income of $5,000 for the necessities of life, including a home, a job, a radio, and an automobile. Everyone over age 60 would receive an old-age pension. His slogan was “Every Man a King.” His program became a movement: By 1935, 27,000 local clubs existed in all 50 states with 7.7 million members.
The Test of Our Progress: In June of 1934, a year-and-half into his first term as President, Franklin D. Roosevelt (FDR) appointed a committee comprised of five cabinet-level officials tasked with creating a “Social Security” program. Within six months, the committee presented its program to FDR – who introduced the bill to Congress in January 1935. Some provisions barely passed with close votes in congressional committee, but the bill was passed overwhelmingly on the floor of both the Senate and House. The legislation sent for the President’s signature included unemployment insurance, old-age assistance, aid to dependent children, and grants to the states to provide various forms of medical care.
“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”
Franklin D. Roosevelt
To learn more, visit the SSA’s history page: http://www.ssa.gov/history. Better yet, watch the 1941 film “Meet John Doe” (http://www.imdb.com/title/tt0033891).
Source material: http://www.ssa.gov/history