In 1950 there were 16 workers for every retiree, today there are 3.3 workers for every retiree, and by 2030 there will be just two. By 2030 there will be 70 million retirees twice as many as today.
The 1983 SS compromise Hillary was touting raised the retirement age from 65 to 67 and increased taxes.
Ruling out personal accounts is not popular with younger voters.
Exactly, younger voters (college age) don’t think that SS will be around when they retire.
One day when people really see the problems and why they aren’t getting SS, we can look back at the Dems cheering when Bush made the comment that his plan didn’t fly.(To be honest I can’t remember exactly what he did say to cause the cheering, other than SS.)
The extra money the 1983 law collected was to be set aside for the baby boomers retirement. SS has collected more than needed for 24 years by a wide margin.
The extra money was “invested”, not in the markets, but in government IOU’s.
Which every politician on that stage has spent and squandered in addtition to the regular tax receipts.
Those IOUs will have to be redeemed by taxes collected on our children.
Which means the American citizens will have paid twice for the same benefits.
The biggest financial scam ever perpetrated by Congress.