Planet Money · Wednesday, September 30, 2026
Social Security was established nearly a century ago during a period of industrialization and poverty among the elderly. President Franklin D. Roosevelt launched the program to provide monthly payments to older Americans. While initially successful, the program has faced increasing financial challenges in recent decades due to demographic shifts and stagnant tax rates.
“By the 1930s, more than half of elderly Americans were living in poverty.”
“So, President Franklin D. Roosevelt launched a way to give older Americans money, every month until they died. Social Security.”
“But for the last half of its life, Social Security has kind of been in trouble.”