The Great Society programs, initiated in the 1960s, profoundly impacted U.S. socioeconomics by aiming to eliminate poverty and racial injustice. Key components included the establishment of Medicare and Medicaid, which expanded healthcare access for the elderly and low-income individuals. Educational reforms, such as Head Start, aimed to provide better opportunities for underprivileged children. These initiatives fostered a significant federal commitment to social welfare, leading to decreased poverty rates and improved living standards. However, they also faced criticism for increasing government spending and dependency on welfare, influencing debates on social policy in subsequent decades.