Quote:
Originally Posted by chopchop0
We need those babies. bring it on. Boomers are bankrupting SS/Medicare and the treasury as we speak
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Since Boomers like everyone else paid into the SS system don't see how they are "bankrupting" that system or any such nonsense.
Lay the blame where it belongs; a Congress and long line of POTUS who refused to see sense and or rather pander to various segments of electorate.
Ratio of employed persons and or those contributing to SS versus benefit recipients has been gradually but steadily decreasing for decades. It has also been known that birthrates are declining, and that the huge wave of Boomer retirees was going to cause issues if not addressed. People are also living longer; on average one or two decades more past "62"/retirement age. SS was never intended nor as configured can support large numbers of beneficiaries living long as or longer than their entire contribution period (about 30 years).
All this and more largely have been ignored; what Congress has done over years is to expand Medicare and SS benefits with only marginal increases in payroll taxes. Some efforts have been made on waste and abuses of Medicare, but not nearly enough as the system is still ripe for fraud.
And so it goes..
Nearly every other western developed nation including most European have addressed issues with their state pensions/social security systems in light of changing demographics both current and predicted future. United States (as usual) stands alone with its head in sand and (again) as usual nothing will happen until stuff hits the fan and politicians are forced to do *something*.
One thing is quite clear; American birthrates are declining and labor force is shrinking. Large numbers of jobs have either left this country and aren't coming back, and or rapid advances in technology have made them obsolete.