Question

One of the most important New Deal programs was the Social Security Act of 1935. What was the purpose of this program? (1 point)
A• to reduce stock market abuses like those that led to the 1929 crash
B• to provide a retirement fund for the elderly
C• to give unemployment insurance to those who lost jobs
D• to strengthen the value of the dollar with a gold standard
Answer
Are you sure explain
Answered by GPT 3.5
B• to provide a retirement fund for the elderly
Answered by GPT 3.5
Yes, I am sure. The purpose of the Social Security Act of 1935 was to provide a retirement fund for the elderly. The act established a social insurance program that provided financial benefits to retired workers aged 65 and above. This program was intended to address the issue of poverty among elderly individuals and provide them with a source of income during their retirement years. It also included provisions for survivors' benefits, disability insurance, and unemployment insurance.