Source: Laredo Morning Times
The Social Security Act was enacted on Aug. 14, 1935 and drafted during the administration of President Franklin D. Roosevelt‘s first term by the President’s Committee on Economic Security. It was passed by Congress as a part of the New Deal. The act was an attempt to limit certain dangers that occur in society due to old age, poverty, unemployment, and the burdens widows and fatherless children may experience.
Roosevelt became the first president to seek federal assistance for seniors. In addition to the act providing benefits to retirees and the unemployed, a lump sum death benefit was written into the law.