An asterisk on statements sent to prospective beneficiaries warns them that the payout will decrease dramatically in 18 years.
Working Americans have been forced by law to pay Social Security taxes. Ostensibly, the intent of the tax was to force workers to save for retirement. The government would keep the funds secure it what Al Gore once called a "lock box."
Efforts to privatize Social Security -- or to allow contributors to choose between a government program and forced contributions in non-government investments -- have been routinely met with scorn by the predatory left.
We now learn that the government predicts funding for its Ponzi scheme will ebb in 2033, leaving the nation's most vulnerable with substantial decreases in their income.
The problem is compounded by the flood of aging immigrants expecting to receive Social Security benefits; even though their contributions to the program were much less than their anticipated payout.
One gets the idea that the predatory left is intentionally attempting to destroy Western culture.
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The old cliché “demographics is destiny” has never been more applicable. In January 2011, the first 1946-born Baby Boomers began turning age 65, at the rate of 10,000 a day. This gray-haired evolution continues for 19 straight years — until the end of 2029 — when the youngest crop of Baby Boomers, born in 1964, finally turn 65.
That adds up to just over 69 million former hipsters who changed America at every stage of their lives (though, of course, some of them have died). Now, many equipped with artificial hips and knees, they’re expecting generous automated deposits from the government at the first of each month. (With many millions of them over time eventually receiving far greater amounts than what they initially contributed.)
Keep in mind that those millions of surviving Baby Boomers do not include all the immigrants, also aging, who came to America in the past decades. The official total is 74.9 million Boomers native and foreign-born. Here is more truth (and pain) from the Social Security Administration: The population of retirees is projected to double in about 50 years. People are also living longer, and the birth rate is low.
Baby Boomers can expect to live longer than any previous generation, which compounds the problem, and on the other side of the equation, we have the low national birth rate. Combined, the Social Security actuaries put it this way: Trustees project that the ratio of 2.8 workers paying Social Security taxes to each person collecting benefits in 2013 will fall to 2.1 to 1 in 2032.
Like it or not, the worker shortage is a key reason why our government is importing immigrants (both legal and illegal). Don’t buy it? See this 50th anniversary video commemorating President Johnson’s signing Medicare into law, produced by a group promoting immigration reform — clearly implying more immigration is what’s keeping Social Security and Medicare afloat:
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