Austerity

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Originally Posted by Schneed10

I think Social Security is a big area where benefits will be adjusted one of these days. When it was put into place they made the retirement age 65, people didn't live much longer than that. Now the retirement age is still 65 but a lot of people are living into their 80s. Obviously that's a drain on the system.

With baby boomers retiring the funds will be drawn down and will run out of cash somewhere between 2030 - 2040. They have no choice, they will have to push back the retirement age or cut benefits.

Of course they could modify the investments in the program's portfolio, that would solve a good portion of the problem.

What investments? Thats the problem they have spent all the SS money on other stuff. Once again its not a money problem its a spending problem.

When you see what they riot over in France and other countries it makes you want to laugh. Funny thing is while they have realized that they cannot afford these programs any longer we are moving closer toward them.