Lets get the numbers right. The ratio of "greatest generation" to retirees was 23:1 when the program was instituted. Today, the ratio is 3:1 boomers to "greatest generation". Boomers are carrying the majority of the load right now. Boomers will start retiring in 2016 (age 70 1/2). At that point the ratio of workers to recipients will be approaching 1:1. The boomers start becoming a burden and cease contributing to sharing the costs in the post 2016 time frame. There are plenty of boomers carrying the load right now. It is the boomers will get screwed at retirement because there just aren't enough Gen X people with sufficient earning capacity to cover the obligations. The only solution is to cut social security outlays. The boomers will have get little or nothing. The boomers far outnumber Gen X. There is no way the program can continue as it is today.
I was citing this paper...
Lets get the numbers right.
The point is the same. The load will be too great for the younger generations to bear.