...and how is it responsible for the threat you identified?
2006-08-21 13:31:23 · 8 answers · asked by ibid 3 in Politics & Government ➔ Government
The population growth is decelerating while the babby boomers are growing older, if there isn't enough funding to fiance these pensions how will the gov't compensate by imposing taxes? Is the gov't responsible for the welfare of the people and if so, doesn't that raises questions that socialized healthcare should be legsilated? Why can't we afford to pay the babyboomers? Where is all that money going?
2006-08-21 13:46:38 · update #1
Nice answer FK, but I still want to see more answers--it could be alternative--I'm open to see more trends
2006-08-21 13:51:24 · update #2
Government overspending is the worst problem, it doesn't help that there are more people collecting it in some form or another than what is going in too.
2006-08-21 13:39:10 · answer #1 · answered by Wilkow Conservative 3 · 1⤊ 0⤋
The Baby Boomer Generation is reaching retirement age, and there isn't enough younger generations working to pay into the SSI trust. Some other trends may be:
• Global trade- Corporate America is outsourcing too many jobs overseas, and we don't see any SSI deposits from those international employees. Hence, they take our money and don't give back ( see why it's important to buy only American made?)
•Â Continuing Education- if you're in school constantly updating your tech skills and only working part time to stay alive during that time, only a fraction of SSI tax is being withheld.
• An increase in unemployment insurance payouts due to #2. That increases the National Debt
2006-08-21 20:45:16 · answer #2 · answered by Flea© 5 · 0⤊ 0⤋
The real truth only told you half the truth. Not enough young workers so get a second job so you can support me.
Lets face it our government has been handing out free cash since the thirties. Lend lease during WW2, then WW2, then all the wars, all the welfare including corporate. Then the pork barrel items they give away to get votes or money. Then there is the national debt. Check out the interest payment each year or even each day. Then we have the government stealing from the fund and leaving a IOU so there was never any interest.
2006-08-21 20:47:03 · answer #3 · answered by iamwelndowd1 2 · 0⤊ 0⤋
In 10 years the number of people drawing a pension from Social Security will triple. (baby boomers)
The number paying in wil halve.
You do the math.
If the money taken every year as social security contributions had not been placed in the general fund and spent this wouldnt be a problem.
2006-08-21 20:41:29 · answer #4 · answered by Kirk M 4 · 0⤊ 0⤋
1. More people living to collect.
2. People collecting for longer periods.
3. Government 'borrowing' the so called 'social security trust fund'.
4. Adding more benefits.
When social security was first passed, the 'retirement' age was 2 years past the average life expectancy. The vast majority of people never lived long enough to collect.
2006-08-21 21:32:33 · answer #5 · answered by STEVEN F 7 · 0⤊ 0⤋
The government spending it like a drunken sailor on people who have never, EVER contributed to the system.
2006-08-21 20:40:47 · answer #6 · answered by Albannach 6 · 0⤊ 0⤋
The trend is called "Liberalism".
2006-08-25 16:08:01 · answer #7 · answered by Anonymous · 0⤊ 0⤋
too many old people dumb a-s-s
2006-08-21 20:36:54 · answer #8 · answered by Anonymous · 0⤊ 1⤋