Will Social Security Be Ready When You Need It?
Social Security is a "pay as you go" system in which
current payroll taxes fund current benefits. But the country is
getting older, and the solvency of the Social Security system is
precarious. In fact, if there is no Social Security reform, benefits
will begin to exceed revenues by 2012, just as the Baby Boom
generation retires. Here's more.
The United States is Growing Older.
Population over 65 ![]() | ![]() In 1994, Social Security
|
Fewer are paying to support beneficiaries
Workers per Social Security beneficiary ![]() |
No change, big problems!
![]() If there is no Social Security reform, the unfunded liability of Social Security and Medicare will be over $20 trillion by 2070. |
Source: National Commision on Retirement Policy.
For more
information, visit www.csis.org/retire/facts.html
.