Franklin D Roosevelt History of Social Security DVD (1937)
The Social Security Act was drafted by President Roosevelt's committee on economic security, under Edwin Witte, and passed by Congress as part of the New Deal. It was controversial when originally proposed, with one point of opposition being that it would cause a loss of jobs. Historian Edward Berkowitz subsequently contended that the Act was a cause of the "Roosevelt Recession" in 1937 and 1938. However, the program has gone on to be one of the most popular government programs in American history.[6] The Act is formally cited as the Social Security Act, ch. 531, 49 Stat. 620 (14 August 1935), now codified as 42 U.S.C. ch.7. The Act is also known as the Old Age Pension Act. The Act provided benefits to retirees and the unemployed, and a lump-sum benefit at death. Payments to current retirees were (and continue to be) financed by a payroll tax on current workers' wages, half directly as a payroll tax and half paid by the employer.
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