1. The Average U.S. Life Expectancy Increased
When Social Security was signed into law in 1935, it was designed to provide a safety net for seniors who lived past the average life expectancy (then around 61 years), supplementing their income for a few years.
However, the current average life expectancy is now of 78.8, but the Social Security system is still based on the stats taken almost a century ago.
What does it mean? At this rate, the program won’t be able to support the needs of retirees, as most of them have a high life expectancy rate.
5 thoughts on “5 Scary Things Proving That the U.S. Social Security Is Failing”
No attempt will be made to correct the problem until it is too late because:
ATTEMPTING A REMEDY WILL NOT BE HELPFUL TO ANY INDIVIDUAL LEGISLATOR’S RE-ELECTION EFFORT. NOTHING ELSE MATTERS.
They won’t even kick the can down the road by postponing the retirement age two or three years–which would help a little. Reason? See above
SS would last a lot longer if only people that paid into SS received SS.
Just like anything else the lawmakers are going to wait until the last minute to fix social security and do a bad job of it and fail, instead of working on it now to find a good way of fixing it.
YEARS ago my congressman said if FICA limit on wages were removed the Social Security funding issues with disappear overnight. Seems simple enough. So why has it NOT been done?
With the unemployment rate down,more money is going into the fund to pay payroll taxes which supports social security,right?
However,are the illegal aliens that are supposedly taking away jobs from american citizens being paid under the table? The system has to be changed for government employees,they also need to pay their share.