Here is an excellent breakdown of what Social Security is in the United States, including its purpose, benefactors, sources of income, and areas of investment. The video compares a traditional retirement account with Social Security, and notes a very relevant consideration regarding how the retirement of the baby boomer population will affect the accumulation of funding for this program.

Concepts

medicare, healthcare, health insurance, social security, the federal government, government systems

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Additional Tags

oasdi, fica, medicare, social studies

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Classroom Considerations

• This video is hosted on YouTube

Pros

• Brief video with clear purpose and explanation
• Drawings and graphs do well to illustrate flow of money and important key terms
• Dispels notion of Social Security as a savings account, and explains a way for current workers to pay for existing retirees

Cons

• None

Common Core

SL.9-10.5 SL.11-12.1.a RH.11-12.7