- 2012 deficit of SS was $48 billion, which was added to the national debt.
- SS beneficiaries hit new record of 56,758,185 people.
- People collecting disability payments hit new record of 8,827,795.
- 112.5 million full time workers in 2011 to support those on SS. Only 94.7 million full time workers were in the private sector.
- 1.67 full time private sector workers support each SS recipient.
- 1.27 full time private sector workers support each SS recipient or full time government worker.
- 2012 is the third straight year that SS has spent more money than it received in tax receipts.
- Baby Boomers have barely begun to retire.
- The National Debt is now $16.42 trillion, in excess of the $16.4 trillion debt ceiling and the National GDP of 2012 estimate of $15.9 trillion.
- Politicians are almost universally happy to pretend there is no problem, as are the voters.
01 January 2013
Social Security Blahs
On the verge of the new year, 2013, let us consider some of the gloom due to the government Social Security Ponzi Scheme to be faced eventually in our future: