Final answer:
The Social Security program provides financial support to elderly Americans and unemployed workers. Established during the New Deal, it includes funding for pensions and other welfare initiatives. Programs like AFDC and TANF also contribute to the support of those in need.
Step-by-step explanation:
The program created to provide financial support to elderly Americans and unemployed workers is the Social Security program. Established during the New Deal era under President Franklin D. Roosevelt, Social Security was aimed at offering a safety net for the elderly, unemployed, disabled persons, and dependent children. This program is funded through a payroll tax levied on both employees and employers.
In addition to Social Security, the United States has implemented other programs to support those in need. Notably, the Aid to Families with Dependent Children (AFDC), also known simply as 'welfare', was a significant anti-poverty program from the Great Depression until it was replaced in 1996 by Temporary Assistance for Needy Families (TANF) through the Personal Responsibility and Work Opportunity Reconciliation Act signed by President Bill Clinton.
Other important welfare initiatives include Medicare and Medicaid, established during President Lyndon B. Johnson's term, which provide health insurance for the elderly and low-income individuals, respectively, and the food stamp program, now known as SNAP, which provides food assistance to low-income families.