Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
What is the poverty line for a family of four? |
About $20,000 a year. |
|
|
What types of Americans tend to be poor? |
Children: 20% People in the South Race: AA: 25% Latino: 22% White: 11% |
|
|
What types of programs does the government use to help the poor? |
Means-tested, non-contributory social programs: Temporary aid to needy families (TANF), Social Security. |
|
|
What is a transfer payment? |
Direct payments (either in cash or in goods and/or services) by governments to individuals as part of a social welfare program. |
|
|
What is an entitlement program? |
Federal benefit payments to which recipients have a legal right- Social Security. |
|
|
How is Social Security financed? |
Payroll taxes. Employers and employees each pay 6.2% out of salary. |
|
|
Is the Social Security program in crisis? |
1. Since 2010 SS has been paying more in benefits than they take in for revenue. 2. SS does however have trust funds. 3. SS is projected to be insolvent in 2033. |
|
|
What is causing the strain on the Social Security program? |
1. Retiring baby-boomers. 2. Low personal savings. 3. Loss of pensions. 4. Longer life expectancy. |
|
|
Which program has a larger long-term deficit, Social Security or Medicare? |
Medicare. |
|
|
What is Medicare and who uses it? |
National health insurance for the elderly and the disabled. |
|
|
What is the difference between Medicaid and Medicare? |
Medicare: is a federal program that provides health coverage if you are elderly or have a severe disability, regardless of your income. Medicaid: is a state and federal program that provides health coverage if you have a very low income, regardless of your age. |
|
|
The poverty line (or, the amount of money a family/household must earnto be considered in [below] or out of [above] poverty) is about? |
$24,000/year for a family of four |
|
|
Thepercentage of American households currently living below the federal povertyline is about? |
14% |
|
|
What describes Social Security? |
Non-means-tested, contributory |
