Only 2 workers for each retiree - Amazing that this was predicted in '34

[papau]

The amazing part is that it was all predicted in 1934 by the actuaries that set up the plan.

In 1934, when Franklin Roosevelt formed the Committee on Economic Security to design what was in effect the first federal safety net, the committee hired three actuaries to stargaze into the future. The actuaries predicted that the proportion of Americans over 65 -- then only 5.4 percent -- would rise to 12.65 percent in 1990, meaning that retiree costs would soar. They were just a tad high; the actual figure would be 12.49 percent.

Nothing has changed. There is no problem. Two workers per retiree does not kill the system - indeed, it does not even strain it that much.

I am an actuary. Talk to an actuary. The Bush folks talk to any and all math/statistical types except the actuaries.

[atxryan]

1. NO!!! Social Security faces an IMMINENT CRISIS

</end sarcasm and hyperbole>

[displacedtexan]

2. Got a link?

Great info!

[papau]

5. link below

http://www.maineaflcio.org/social%20security%20NYT%2005-01-16.htm

[FloridaPat]

3. How could they do that? There were no baby boomers until the 40's?

Do you have a link for that?

Another thing everyone overlooks - seems us baby boomers don't die. We will all reach 100+. Doesn't anyone have any math skills in DC? In 47 years at least half should be dead.

Now here's a great way to make extra money boomers - those who are single - sell yourself in marrige to a young guy or gal. After you die, they still get SS. Great way to suppliment SS payments huh????

[papau]

4. link below

http://www.maineaflcio.org/social%20security%20NYT%2005-01-16.htm