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Updated to cover a decade of extensive policy developments and the impact of the Great Recession, this classic social insurance text is designed for use in public finance, public policy, and public assistance courses, as well as in courses on social insurance and income maintenance and employee benefits. The text includes in-depth discussion of all major programs to reduce economic insecurity in the United States, including Social Security, Medicare, workers' compensation, unemployment compensation, and temporary disability insurance. The principles, characteristics, and policy issues associated with social insurance and public assistance programs are discussed in detail. The book examines each major cause of economic insecurity and analyzes the appropriate social insurance program for dealing with the problem. New end-of-chapter application questions and Internet resources make this text more useful than ever to students.