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Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Why do people use baby boomers as an excuse for Social Security’s impending insolvency?

Why do people use baby boomers as an excuse for Social Security’s impending insolvency?

Those same baby boomers spent a lifetime paying into the program. There is no reason for their money not to be there when they retire. If the system is not a ponzi scheme as some say it isn’t, then the increase in retirees should be a non-issue. The system should not be overloaded since it was already funded in advance by the same boomers that will soon want to collect.

Because the Social Security program is reliant upon the taxes of existing workers, there is the danger of a fiscal imbalance if the number of retirees drawing benefits exceeds the number of workers paying into the system. It is projected that, starting between 2018 to 2020, the program will have to start drawing on the U.S. Treasury Notes accumulated during the surplus years. In the late 2040s or early 2050s, the Treasury securities may be exhausted. Beyond the early 2050s, Social Security will be running a deficit under its current terms.


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7 Responses to "Why do people use baby boomers as an excuse for Social Security’s impending insolvency?"

  1. Todd Makert says:
    If youre white and make over $40,000 a year, you shouldnt be allowed to collect ANY social security. That is the only way to save the system
  2. bobology, the study of bob says:
    the problem is, the politicians spent the money like it was their own.
  3. Jim Bay says:
    Well I guess you answered your own question. Anyone with a brain knows its a Ponzi Scheme, sounds like you have a brain.
  4. Weise Ente says:
    The problem is quite simple. The payroll tax cap is far too low. It’s currently at a little more than 100K. Raise it. Problem solved for several more decades.
  5. Thirsty says:
    Because those people are ignorant.

    They act as if we didn’t pay into it our wholes lives.

    You put your money in, you get your money out, no interest.

    There is nothing wrong with social security.

    When are you going to wake up?

    I’ve had it with ignorant cons.

  6. bigboob says:
    try and find how much money is in s.s you will find it is broke because our gov has been stealing from it for years
  7. Leslie Goudy says:
    Because they hate us for having open minds and lives. These puny kids whining will be replaced by our grandkids soon who do respect us and will right the system. I have faith. Intelligence and Integrity often skips a generation

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