Then I started learning more about the future of our Social Security system. Make that Woe. This system, originated to provide a minimum retirement assistance level, has grown to a virtual entitlement program. And, it is destined for bankruptcy. In 1950, there were 16 workers for every recipient of Social Security funds.
Today there are three.
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.