Here’s more evidence that the “recovery” never really happened, and good reason to think that the entire social safety net structure is doomed to fall apart.
The birthrate, long tied to economic growth, has been dropping to its lowest point in recorded history – both nationally and, in particular, in the state of California.
This demographic shift is bad news for the economy – in terms of housing, consumer markets, and especially for the long-term funding of social security, medicaid, medicare and other obligations that younger generations have typically been expected to pay into.
Whether or not you agree with the system in place, the fact that it is virtually certain to go bankrupt before the generation of baby boomers shift off this mortal coil should be troubling to everyone planning a future in the United States.
Official numbers show that the birthrate began to steadily decline in 2008 when the crisis hit and – unlike even during the Great Depression – hasn’t ever picked back up.
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13 comments:
In the U.S. Social Security is the only legal pyramid scheme. Anyone else that tries this is committing a felony. Yet, good ol' FDR came up with this and it has doomed by its design from the start. Another great libtard idea.
The government needs to replenish the lockbox it stole from!
The upper class need to continue contributing to the SS Tax. Right now it cuts off just over $100K/yr - it needs to kick back in after $300K/yr - give the middle class some breathing room and collect from the higher earners. This reverse donut hole would help the middle class and increase the revenue to the SS funds.
Tell the gov't to put the money back first!
IF all the illegal aliens and welfare loafers were required to pay SS taxes, the fund would be solvent for hundreds of years.. Actually, paying OUT only to people who had paid IN would solve the problem..
It can also thank Obama who granted Medicare and SS to illegals and hundreds of thousands of Muslims he supports.
I might suggest that they raise the FICA tax to cover these issues. This is a tax that I would approve of. I need my SS income to survive . By the way 12:52 I'm sure you would disagree with me , the real problem is the free loaders who don't deserve it , the obama takers.
It has nothing to do with the birth rate.
The government stole the SS Trust Fund.
Period.
12:52
Social Security was NOT established as a pyramid scheme.
The government made it a pyramid scheme after it stole the Trust Fund.
It was NOT DOOMED from the start. It was fully funded indefinitely based on a simple algorithm based on longevity and percent of income. Educate yourself.
This is part of the reason the liberals (and even Bush) have been so keen on immigration, both legal and illegal.
Pumping money into the system. But it won't work for long.
SS 101
If you do not pay in...it shouldn't pay out.
The birthrate will continue to decline. The current child rearing age women seem to be way to self absorbed to become mothers, in my opinion.
I am in my late 40's and have already made plans regarding the absence of social security. This should not be new news to anyone with common sense.
I predict end of life options after age 65. Report to a senior center for options on termination of life if you are no longer able to work. Maybe 5 years or less of benefits and then that's it.
We will have to agree to disagree. My knowledge of the history on this issue leads me to a different cause. Nevertheless, we agree on the outcome.
Maybe the birthrate wouldn't be so low if there were not so many abortions!
It is a FACT that the US government stole the SS Trust Fund.
They created the mess. Now they want to tell us (who paid into it all our lives) that we are not entitled to it. It is those who did not pay into it, who are not entitled to it.
Give them welfare. OK
Don't give them our SS benefits.
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