Description
Social Security is a bipartisan program that initially was difficult to implement because many in the 1930s were weary that Social Security was a form of socialism. The truth was that Social Security's popularity and significance in people’s economic lives overwhelmed these criticisms and now faces its most significant criticism that there was no dedicated trust fund. Liberals were open to change and equality to address these faults with the system. This study focused on solutions posed by the American Academy of Actuaries. The study also analyzed the feasibility of each of these solutions. Utilizing an earlier survey by the Wisconsin Second Congressional District Survey from the University of Maryland, conducted in 2021 as a base, this study examined the concept of liberalism in addressing solutions to the currently depleted Social Security account. The quantitative survey used SurveyMonkey’s web-based platform and obtained responses from n=373 across the US. The survey results represented males and females; the ages ranged from under eighteen to sixty-five. Furthermore, the highest educational attainment of the participants ranges from high school graduates to doctorate recipients. The first goal was to determine this study’s dependent variables. The analyses explored whether an individual dependent variable or combined dependent variables were better at summarizing the concept of liberalism. Using linear regression, it was found that the variance of the dependent variable could be explained by a series of questions that highlight liberal opinions—suggesting that these variables are all connected. Secondly, the study explored which question best explained the concept of liberalism through a series of correlational studies. The analyses, therefore, lead to the conclusion that a construct of “liberalism” determines the responses to solutions posed for Social Security. This study is essential as policymakers deal with attitude rather than economic analyses when dealing with public perception. Moreover, policymakers can apply this study to practice by assessing the temperature in which Social Security is allowed to change in the US without offending most US electorates.
