Changes

In 1965, prodded by liberal president [[Lyndon Johnson]], Congress enacted the [[Medicare]] program as part of the "[[Great Society]]."  Medicare operates as part of Social Security and provides affordable health care to beneficiaries over the age of 65. A [[Medicaid ]] program was established to provide health care for poor people who can not afford private health insurance.

In 1965, prodded by liberal president [[Lyndon Johnson]], Congress enacted the [[Medicare]] program as part of the "[[Great Society]]."  Medicare operates as part of Social Security and provides affordable health care to beneficiaries over the age of 65. A [[Medicaid ]] program was established to provide health care for poor people who can not afford private health insurance.

===The future of Social Security===

===Present liabilities promised to [[Baby boom]]ers===

Social security will face many problems in the 21st century, most notably the aging of the population in developed nations, although more problematic in Europe and especially Japan, will strain American social security budgets <ref>Will social security and Medicare remain viable as the US population is aging? (pdf) <i>Henning Bohn</i>[http://www.econ.ucsb.edu/~bohn/papers/Aging.pdf]</ref> In calendar year 2010, Social Security's outlays will exceed tax revenues (that is, the trust funds' receipts excluding interest) for the first time since the enactment of the Social Security Amendments of 1983.<ref>Congressional Budget Office, ''[http://www.cbo.gov/doc.cfm?index=11943 Long-Term Projections for Social Security]'', October 2010. </ref> According to the [[Congressional Budget Office]], Social Security will exhaust its current sources of revenue completely by 2042 and will be "unable to pay full benefits without changes in law."<ref>Ibid.</ref>

The cost of Social Security benefits that were promised to 70 million Americans of the "baby-boom" generation exceeds fifty trillion dollars ($50,000,000,000,000).<ref>http://www.usatoday.com/news/nation/2004-10-03-debt-cover_x.htm</ref><ref>http://www.usatoday.com/news/graphics/debtcalculator/flash.htm</ref><ref>http://fiscalsolvency.com/the_3_parts_of_our_fiscal_crisis.htm</ref>

===Reform===

===Reform===

==Greece==

==Greece==

In February 2010 [[Greece]] announced austerity plans to overhaul its Social Security system in the wake of the Greek Sovereign Debt Crisis.<ref>http://news.ebru.tv/en/Europe/14657.html</ref>

In February 2010 [[Greece]] announced austerity plans to overhaul its Social Security system in the wake of the Greek Sovereign Debt Crisis.<ref>http://news.ebru.tv/en/Europe/14657.html</ref>

==Further reading==

==Further reading==