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Originally Posted by GrimJack
Well, actually the money you put in does not go right out to a current recipient. Currently, Social Security is running a $150 billion surplus each year
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I don't doubt social security help fights poverty and helps our older society overall. It's interesting you mentioned about SS running into surplus each year. When the baby boomers peaks retirement age (around 60-78 Million) by 2022 it will start running deficit and fully dissolved by 2041. In fact beginning 2019 when the outlays for social security are projected to exceed revenues that's when problems really begins. That's just one problem. The "real" back breaker for the US economy is rising health care cost "medicare" alone which is projected to consume 40 percent of our GDP by 2060 based on CBO - The Long Term Budget Outlook published in 2007. Those ratios are not sustainable long term.
Quote:
Originally Posted by GrimJack
If you want Social Security to be around when you retire - fight for it not against it.
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I'm not totally against it, but the System must be overhauled for "real" permanent solutions not put bandages around the injury.