What did the Social Security Act of 1935 establish?

The Social Security Act of 1935 is significant because it established a social insurance program designed to provide financial support to the elderly, unemployed, and disabled individuals. This was a pivotal moment in American social policy, aimed at addressing the economic hardships faced during the Great Depression. By creating a safety net for these vulnerable populations, the Act helped ensure that they had access to basic financial resources, which in turn contributed to greater economic stability and security.

The Act introduced several key components, including old-age pensions and unemployment insurance, marking the beginning of the modern welfare state in the United States. It was designed to alleviate poverty among the elderly and to provide a safety net for those who found themselves out of work, thus promoting social wellbeing during a time of significant economic turmoil.