Yes, the Social Security Act, enacted in 1935, is still a fundamental part of American society. It established the Social Security program, which provides retirement, disability, and survivors benefits to millions of Americans. Over the decades, the Act has been expanded and amended to adapt to changing societal needs, including the addition of Medicare in 1965, which provides health insurance for individuals aged 65 and older and some younger individuals with disabilities.
Social Security remains one of the largest government programs in the U.S. and plays a crucial role in reducing poverty among the elderly and providing financial support to those unable to work due to disability. As of 2023, it continues to be an essential component of the social safety net, with discussions ongoing about its sustainability and potential reforms to address future funding challenges.