The first baby boomer, a woman named Kathleen Casey, who was born on January 1, 1946, will turn 62 in three months. She is suppose to be the first baby boomer who will start to receive Social Security benefits.Coming up behind her are another 80 + million others, almost every one of them counting on getting something from the government.
Pretty scary thought considering the only thing in the Social Security fund or i.o.u’s. There is no money in there. It has been stolen. So the next time you want more government in your lives, remember this… these citizens worked 40 + years contributing to Social Security only to have it robbed.
As for me, I know I will get nothing.
The problem is a mathematical one. When the Social Security system was set up, there were 42 people working for every one who was getting benefits. In 2030, when the boomers are drawing their checks, the ratio will fall to 2 to 1. The system will go broke.
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