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Social Security Funding Deficit - Retirement Time Bomb - Can You Afford To Retire?

451 views · Published 15 August 2016 · 1:58 · Indexed 2 October 2026

Channel: ITM TRADING, INC. · 2016 · News & Politics

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Social Security broke and running a deficit. Will I be able to afford to retire? How will the government fix  Social Security?
In the early 1970’s I remember thinking that Social Security would not be there when I would be ready to take it, and that it was really just one big Ponzi scheme. That seems prophetic since today many key retirement systems are severely underfunded with a near future forecast of when they’ll run out of money. The plans that were created in the 1930’s and on, are unraveling just as the baby boomer generation (1946 – 1964), the largest demographic group in history, reaches retirement age.

Transcription 
Too see how has it been working take a look at this chart from peter g Peterson foundation.


They are a really important think tank and if you are registered I'll be sending you all of these links to in an email. 

We were already running a deficit which means that the the fees that were coming in  and the revenues that were coming in already in 2007 we're not enough to cover the benefits that they were paying out and the baby-boomers did not hit retirement age and tall 2013 so full six years before the largest wave of retirees have hit.


 we're already in the Social Security Department running deficit going to be there in October prop probably i don't know because all of you know how many times they use the threat of taking social security away
they call it and entitlement - programs but they are not legally obligated to pay these social security benefits you and I are legally obligated to pay that social security tax and employers also have to
pay that tax but the Congress, the government is not legally obligated to pay these benefits so they continue to use them as a threat when frankly if they can push a button to create free
money from the banks why in the world can they not push a button to pay out benefits that you've paid into your entire life?

That's another story so there's your social security system i hope you feel confident because I certainly don't.


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