In the decade between 2008 and 2018, the number of retirees in the U.S. will double. At that time, there will be less than two workers for every recipient. Our Social Security program has been sold to us as an investment. Money contributed during the working years is supposed to grow in a Trust Fund, so that upon retirement, a substantial nest egg will be waiting. But the system does not work that way.
Money paid in now goes to people who are retired now.
Faster than green chop goes through milk cows, Social Security payments move directly through the system from a worker to a former worker. Social Security is nearing retirement age. Conceived more than 60 years ago, the plan is on a path to failure because politicians promised more than future wage earners can deliver. People are living longer and believing they are entitled to a yearly increase in payments. The Trust Fund Mere tinkering around the edges will not save Social Security.