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Social Security System Survival by Laurens Wright
It is Going to Be Hard to Get Back on Track
There are IOUs replacing the money in the Social Security Fund.
So what happens now????
What I see?
The money is not there... duh
Someone has to pay the T-bills, (IOU's)
Someone has to pay the SS recipients
Someone has to pay into the fund
someone has to pay the interest
as the cost increases... this system is doomed!!!!
Ratios of Contributation
The social security fund was set up so that many people would be contributing to the fund and a minority would be retired- 40 to 1 ratio was thought to be secure; for 40 people working and one retired..
Now it is a 3 to 1 ratio, with three working and one on Social Security. Pretty soon it will be 1 putting into the system and 3 retired and taking out, with the Baby Boomer Generation.... well, duh again!!!
People have worked at their jobs for decades, putting their hard earned money into the Social Security System, Only to have it removed, sold out, and stolen, which some was replaced with IOU’s? What a shame. The corruption of the government and politicians increased the national debt, borrowed from pension funds and the Social Security System and re-routed and extended the debt.
The Social Security Number has turned out to be a tracking number and the people that are trying to retire are wondering how to retire, where to retire and when to retire. Do these want-to-be retirees keep doing the work that they have been doing till they die or try to find some other type of work to supplement their Social Security Income?