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FDR Signing Historic Legislation into Law
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By OWL National Board Member Joan Bernstein and Merton C. Bernstein
We hail the signing of the Social Security Act legislation 78 years ago by FDR. Often thought of as a program for the elderly, it is that and much more. It is the first line of defense of the American family, including babies and children, when death, disablement or retirement curtail income.
It is the mainstay of the majority of families receiving benefits. It stands almost alone among retirement programs in adjusting benefits yearly to preserve benefit buying power. That also makes it a boon to millions of American businesses and their employees.
The great majority of the American people value Social Security highly and disapprove proposals to lower benefits. It has stood the test of time because tens of millions of Americans families have experienced how essential it is to their dignity and well-being.
__________________________________________________________ Joan Brodshaug Bernstein and Merton C. Bernstein, Coles Professor of Law Emeritus, Washington University in St. Louis, are the co-authors of 'Social Security: The System That Works.'
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