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To: ex-snook
You skipped over the SS contributions lost by exported jobs, didn’t you?

No, I didn't. Exporting jobs is not what is causing SS to go broke. Our aging population coupled with rising life expectancy are the problems. When SS was implemented in the 1930s, it had 37 workers for every retiree. By 1950 there were just 16 workers for every retiree, long before we were exporting jobs.

SSA:Due to demographic changes, the U.S. Social Security system will face financial challenges in the near future. Declining fertility rates and increasing life expectancies are causing the U.S. population to age. Today 12 percent of the total population is aged 65 or older, but by 2080, it will be 23 percent. At the same time, the working-age population is shrinking from 60 percent today to a projected 54 percent in 2080. Consequently, the Social Security system is experiencing a declining worker-to-beneficiary ratio, which will fall from 3.3 in 2005 to 2.1 in 2040 (the year in which the Social Security trust fund is projected to be exhausted). This presents a significant challenge to policymakers.

The Social Security program matured in the 1960s, when Americans were consistently having fewer children, living longer, and earning wages at a slower rate than the rate of growth in the number of retirees. As these trends have continued, today there are just 2.9 workers per retiree—and this amount is expected to drop to two workers per retiree by 2030.

The program was stable when there were more than 3 workers per beneficiary. However, future projections indicate that the ratio will continue to fall from two workers to one, at which point the program in its current structure becomes financially unsustainable.

53 posted on 02/03/2014 4:03:36 PM PST by kabar
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To: kabar

That’s why the Death Panels are so vital.
Every year sliced off the lifespan is huge for the SocSec and Medicare funding.


54 posted on 02/03/2014 4:05:22 PM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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