[freedumb2003]

A more realistic assumption of GDP growth of 4% extends the SS program to 2060.

Too many assumptions to make thay figure. And even then, it will be such a tiny payout that it might pay for 2 day's worth of gas for your car a month.

No one in their right mind expects for it to be around more than 5-10 years. And Medicare will go sooner.

[mikeybaby]

In broad terms, I agree.
I personally am not depending on SS, and I'm 48.
Sigh.

[microgood]

No one in their right mind expects for it to be around more than 5-10 years. And Medicare will go sooner.

Actually the situation is this:

Right now SS is taking more in than paying out. It peaked this year and will decline until 2018 when the amount going in equals the amount going out. At that point, they expect the Government to pay it back all the money it stole from SS which will get them to 2040.

The problem is that they will never have the money to pay back the system. In addition, they will not have the 130 billion a year they are currently stealing from it. The train wreck started this year and in 2018 it gets more severe.

There are currently 38 million on SS and 75 million baby boomers retiring in the next twenty years and it is not going to be pretty.