Social Security Disappearing in the 21st Century

Its called friendly fire went the attended victim was not a fellow compatriot. Unfortunately, this type of incident is not limited to the battle field. From the effect of today’s U.S. economy break down, millions, no tenths of millions of individuals and families will be at risk of living below their standard of living, or even worse, live in poverty themselves, which will severely affect the social  and financial condition of our country, over the next several decades. And no other group will be in the crossfire, more so, then our elderly population.

With seventy-seven million U.S. baby boomers scheduled to leave the workforce over the next 10 years, and only 41 million new workers entering it, millions of today’s baby boomers’ private pensions and social security benefits will be depleted to help sustain the U.S. economy, before the end of this half-century.  Why, because, there simply will not be enough skilled U.S. workers to replace them, or fill the jobs created by this new economy to secure these benefits.  In fact, the retirement of these baby boomers, along with increasing life spans, will sharply expand government aid cost, therefore, forcing the government to either raise future taxes or constrain future benefits. 

So where does that leave us? Hopefully not near the threshold of retirement. Because, in 2025, our Social Security system is scheduled to bottom out, and cost the U.S. government over $300 billion a year. To sustain the system, since benefits are paid from taxes of workers, each retiree will need two workers per benefit. It can’t be done, if things stay the status quo.

Demographics don’t lie; minorities are projected to represent 40% of the U.S. population by 2030 and 50% before 2100. This group will also be responsible of making up 44 to 60% of the labor force. Unfortunately, many minorities will not be qualified to fill those jobs in the new global knowledge base 21^St century economy.

It’s time to man-up America, and faces the facts, if we refuse to strengthen our educational system, NOW, and close the academic achievement and attainment gaps of minority students, we’re doomed.

Stop insulting our intelligence. If it costs $25,000 to incarcerate a person (which are majority minorities), and have the average minority low-income families make $20,000 a year. This is a system we no longer can invest in. We have to stop sacrificing our fellow citizens, and focus on developing our human capital and protect our long-term interest.    

Contact: support@americafirstorlast.org, and Help Save Social Security.