The Social Security Act was enacted in 1935 and has since undergone numerous revisions and amendments. Today, the law covers a wide range of benefit programs, including Medicare, unemployment compensation, and Supplemental Income Security. However, the major part that the Social Security Act has become known for is the Old Age, Survivors, and Disability Insurance, or OASDI, program. Although today the OASDI program is most often referred to as “Social Security,” it is only one thread in what has been called the “social safety net.” Therefore, throughout this document, it should be understood that Social Security will be the term used to refer to all programs it encompasses as a group, for convenience. The recent budget controversy in Congress and in the media has once again brought to the forefront the United States government's pressing desire for fiscal responsibility. Although Congress reached a compromise on the budget at the last minute, the additional attention given to the budget issue has reignited a lingering controversy: is the current system of transfer payment programs financially sustainable, or are these programs should they be recognized as an economic burden? As new waves of retirees flood into the system, it once again becomes necessary to ask whether the U.S. government can actually afford to keep the implicit promises it has made, and whether the next generation that will reach retirement age retirement age will benefit. it is paid so that current applicants can benefit from it. To begin with, it is worth understanding what the characteristics of an “economic burden” are. Perhaps the most obvious point is that this is expected to consume a large portion of the funding. This distinction is awarded to the Social Security program...... middle of paper ...... American Social Security system and how to plan now for your own financial survival. New York: Villard, 1991. 22. Print. Walsh, Mary W. "Social Security Will See Payouts Exceed This Year." Nytimes.com. The New York Times, March 24, 2010. Web. April 22, 2011. Office of Management and Budget. “Table S-3 Current Policy Baseline Projection by Category.” United States Government Budget: Fiscal Year 2011. August 6, 2010. Web. April 25, 2011. Schieber, Sylvester J. and John B. Shoven. The Real Deal: The History and Future of Social Security. New Haven, CT: Yale UP, 1999. 190. Print. Shenkman, Rick. “When did Social Security become the third rail in American politics?” HNN. History News Network, June 3, 2005. Web. April 24, 2011. Summers, Lawrence H. “Unemployment.” The Concise Encyclopedia of Economics. Library of Economy and Freedom. Internet. April 23. 2011.