M
melensdad
Guest
Jim the problem is that there are NOT ENOUGH new workers entering the system to pay for all the retired workers. Retirees are living longer, that means current workers are paying more than is expected per retiree. The birthrate is not keeping up with retirees, that means there are not enough earners to pay for the takers. With this type of simply math it is easy to see thatWhen current workers get old enough to retire (the retirement age keeps increasing) they will have to be supported by the then current workers–their children and grandchildren. And there may not be enough of them to keep up the payments.
- we will have a collapse of the Social Security system, OR
- we will see large tax increases dumped on our kids to pay for the debt, OR
- we will see a cut back in the benefits to some/all of the retirees, OR
- we will see the retirement age increased again and again, OR
- we will see some combination of all these things