OLLI Talks: Stability of the Social Security System (Hybrid)

The Social Security Act was signed into law by President Roosevelt in 1935 during the depths of the Great Depression. It created a federal safety net primarily for elderly and disadvantaged Americans which is currently serving about 68 million people. The program has been controversial from the beginning and continues to be a political hot potato. This class will address several difficulties facing the system, particularly the longer-term issue of sustainability of the program due to depletion of the Social Security trust fund and significant demographic shifts. Pressure on the trust fund creates the potential for benefit cuts or revenue-enhancing changes to the program.

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Dr. John Olienyk earned his Ph.D. in economics at Colorado State University. Subsequently, he served for 37 years as a faculty member there, first in the Department of Economics, then in the Department of Finance and Real Estate, specializing in international finance. He taught in MBA programs in France and Russia and in an undergraduate program in Vietnam. He also participated in a US government-sponsored faculty development program in which he served as a trainer and mentor for young business and economics professors in universities in Ukraine, Kazakhstan, Uzbekistan and Russia over a period of twelve years. He has traveled extensively throughout Ukraine and maintains relationships with many of his university contacts there.

Notes

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