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===United States===
===United States===
Social Security was founded as a quick-fix solution to [[unemployment]] by paying off older workers to give up their jobs for younger workers. No net new jobs were created. Economists call this a zero-sum game, where net gains and losses are exactly balanced. The payment system mimicked the idea of insurance premiums with payments withheld from a workers paycheck, however none of the premiums were ever invested in a so-called "Trust fund," and were actually transferred immediately in a "pay as you go" (or "paygo") system destined for immediate [[aggregate consumption]]. Hence many of the structural flaws from the programs origins.
Social Security was founded as a quick-fix solution to [[unemployment]] by paying off older workers to give up their jobs for younger workers. No net new jobs were created. Economists call this a zero-sum game, where net gains and losses are exactly balanced. The payment system mimicks the idea of insurance premiums with payments withheld from a workers paycheck, however none of the premiums were ever invested in a so-called "Trust fund," and were actually transferred immediately in a "pay as you go" (or "paygo") system destined for immediate [[aggregate consumption]]. Hence many of the structural flaws date from the programs origins.
Over the years excess withholdings from workers paychecks, (known as F.I.C.A.), have been used to fund government paygo operations such as the [[Vietnam War]], for instance. However, overwithholding from workers paychecks will become less of a problem in the near future as the gap is closed between the ratio of workers supporting the system, and those drawing upon the system for sustenance.
Over the years excess withholdings from workers paychecks, (known as F.I.C.A.), have been used to fund government paygo operations such as the [[Vietnam War]], for instance. However, overwithholding from workers paychecks will become less of a problem in the near future as the gap is closed between the ratio of workers supporting the system, and those drawing upon the system for sustenance.