Although some may say that our social security system has long been an ache in the side of America’s economy, in actuality, with more attention paid toward its use can significantly help us. In the age where generation Y and millennials are about to enter America’s work force, it is inevitable that they will run into obstacles created by the country’s gargantuan national debt: a staggering $18 trillion. While the economy is indeed in a great state than what it was in 2008, the recession is still fresh on US citizen’s minds, leading to thoughts of how the economy could be improved, for example, whether or not social security is good for the United States. Several people have been in favor of continuing the support of the social security …show more content…
How and where would those dependent on the social security system get the money they need to provide for their household? The smaller the monthly checks get, the less happy people will be and they will also slowly but surely become closer to poverty, leading to a system failing to achieve what it was made to prevent from happening. Another reason is that instead of opting in and relying on the social security system, there are other ways to live comfortably once retirement comes around, for example simply raising and saving the money through income, as well as utilizing the 401k. Investing in the 401k is completely optional and voluntary, whereas paying for social security is a requirement for all legal citizens living in the United States. The money raised in a 401k is completely owned by the one who made it, with no interference or control from an intermediary. The money could also grow higher until you retire, because you are putting money in before taxes. This leads to many believing that while the social security system is indeed convenient and helpful to those who need it, the income one may receive could not even meet potentially half of the monthly income they can spend with a