posted on Apr, 13 2011 @ 06:33 PM
reply to post by TriForce
Social security is rapidly becoming insolvent, as there are more and more recipients and fewer providers. It's pretty simple math, follow
For hypothetical purposes we will stick with nice round numbers.
In lets say 1980, we had 20 people contributing funds to give benefits to 1 recipient.
In 1990, that number dropped to 15 payers for every 1 recipient.
2000, that number again dropped, this time to 10 payers for every 1 payee.
Now, lets say in 2010 that number dropped once again to 5 payers per payee.
Do you see where this is going?
Now, lets look at what Social Security truly is....
For lack of a better term, it is yet another Congressional slush fund. There are TRILLIONS of dollars in unfunded Social Security liabilities. Where
do you think that money is going to magically appear from?
Let me help you answer....it won't.
Congress spent the money, and implemented a number of Treasury backed IOU's for lack of a better term. Where will those trillions come from? Fewer
payers, more payees, and Congressional promises all put together are a recipe for disaster. Unless of course you happen to know where our hidden stash
of trillions of dollars are that is.
I'm 32. I absolutely guarantee S.S. will not be around when I reach retirement age.