Distrust in the solvency of social security has led the federal government to steer working Americans toward alternatives such as supplemental retirement accounts. How has the federal government encouraged such investment?
a. Laws have been passed that progressively require each generation to fund their private retirement investment.
b. The government has threatened civil action.
c. In order to encourage private retirement accounts, the federal government has increased the use of individual tax credits and incentives.
d. In order to receive social security, future retirees must have a privately funded account.
e. The government has ignored the issue.
Question -2-According to your text, what year will all baby boomers be eligible for Social Security, causing the system to face solvency issues?
a. Social Security will never be insolvent
b. 2050
c. 2015
d. 2025
e. 2035
Question -3-Although the government has implemented minor reforms to shore up the Social Security system, the government is also encouraging people to invest a portion of their income in
a. IRAs.
b. 401Ks.
c. savings accounts.
d. their own homes.
e. federal bonds and treasury bills.
Question -4-The Personal Responsibility and Work Opportunity Reconciliation Act of 1996 implemented the most significant reforms of the welfare system in more than forty years. Which of the following was NOT a result of this legislation?
a. scaling back the food stamps program
b. requiring welfare recipients to work
c. devolving much of the administration duties of the welfare system from the federal government to the state governments
d. having no impact on the actual number of persons receiving assistance
e. limiting the receiving of benefits to a five-year period
Question -5-The war on poverty created many federal social programs, one of which is the well-known food stamp program. In what year was the food stamp program initiated?
a. 1880
b. 1910
c. 1935
d. 1964
e. 1993
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