Social Security: How can it ever get exhausted??

Quote from GTS:

Ever heard of baby boomers?

Take a look at the demographics of the US population.

http://www.washingtonpost.com/wp-dyn/content/article/2007/04/23/AR2007042301963.html

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cant we have immigrants make that up? we are not japan, immigration's will probably be needed to keep up the growth rate and pay for government spending needs.

Over the past 10 years japan has had one of the higher growth rates on a per person basis. since there population is falling total gdp has been flat.
 
Quote from The Kin:

The second SS outflows exceed SS inflows, expect major changes to the program. Retirement age 81 anyone?
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This will have to be one of the solutions. The fact is that people are living longer and longer every year. There is no reason why healthy people NEED to retire when they hit 65. A safety net for retirement, should only be used when you truly NEED it, which for many, could be 70+
 
The numbers the feds used when they planned The Great Social Security Give Away are pretty old. Before birth control pills and penicillian, for instance. Back in the day, most people died before 65 or soon after. Old coots were fairly uncommon, not like today. And babies were a lot more common. So now we have less workers, more free-loaders, and a baby boom about to stop working and start free-loading.

There may be a bit of an exaggeration regarding the boomer impact on SS. But there is no question that the ratio of people paying into social security to those getting money from it has been dropping for years.
 
That's why it is bull. There is no way, I mean no way, the out flow is greater than the inflow when the limit increase every year, AND we are paying the highest rate in the history of social security tax.

No everyone will receive the same amount in SS, it's base on your contribution. That is, if you only paid 100k, you won't get the same amount of people who paid 1 million.


Quote from GTS:

Ever heard of baby boomers?

Take a look at the demographics of the US population.

http://www.washingtonpost.com/wp-dyn/content/article/2007/04/23/AR2007042301963.html

 [/B]
More...
 
It's a Ponzi scheme. It was set up by Roosevelt during the Great Depression. Initial retirement age of the then predominantly male workers was 65. The average life span was under that. It has been a rip off from the get go.As they reduced the value of the dollar they increased the takeout.
We went to war with England over an unfair 1.3 % tax.. What is the present total GUMMINT total tax rate. I know we get more services now from the centrel Gummint, but we pay one hell of a price.Mark Twain was right. We will sooner rather than later be "FROGGED TO DEATH"
 
the life expectancy of people in the usa has gone from 49 in 1900, to 64 in 1935, to 77 now. that's the problem.

at some point congress will need to adjust for this. i see them creating a formula by which they take the average life expectancy from the cdc, then adding 2 years to it, as an annual adjustment.
 
Quote from gnome:

Yeah, no shit!

For years we paid into SS and build up a reserve which would be needed to fund payments as the Boomers' benefits peaked. But Congress STOLE THE RESERVE... then claimed "well, it never was a reserve program anyway... rather it's always been PAY AS YOU GO".

If that's the case, why were we paying into a reserve?

Congress, the Adminstration(s), and Fed are nothing by LYING, THIEVING, MOFO BASTARDS!
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No shit, thieving socialists use the money to hire more voters so as to keep the politicans in power.

One thang out out of the equation is when we find cures for cancer, heart disease, diabetes all withing the next 30 years medicare expenditures will go to next to nothing.

John
 
Something will need to be done such as raising the minimum age and, possibly, a means test. The gov't has NOT 'stolen' SS money: they have borrowed it and will pay it back when the need is there.

There is plenty of money available by cutting our immoral and unnecessary excessive military spending. We account for 52% of the world's total military spending and our allies account for another 30%. The SS 'problem' might very well be a blessing in disquise by forcing our country to abandon it militarism.
 
Quote from jficquette:

One thang out out of the equation is when we find cures for cancer, heart disease, diabetes all withing the next 30 years medicare expenditures will go to next to nothing.
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That doesn't make much sense. Everyone is going to die from something sometime.

When people stop dying from cancer, heart disease & diabetes then they will just live longer and get other illnesses which will requirement expensive treatments which medicare will cover.

The only way medicare costs go to zero is if everyone dies before they get on medicare, exactly the opposite of what is happening now.
 
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