Less Workers, More Older Americans – How will we pay?

Fact #473: The average American retires five years earlier than in 1950 and lives 12 years longer.(Source: U.S. Censu Bureau)

Fact #474: The United States will have more than 1 million centenarians in 2050, up from 71,000 today. (Source: U.S. Census Bureau)

Fact #475: Medicare has four workers paying taxes for every senior getting medical coverage. In 25 years, the ratio will be 2.4 workers for every beneficiary. That is assuming the system does not pay for a single new medical treatment. Workers and retirees in the system will take out an estimated $12.7 trillion more than they contributed.
(Source: Social Security and USA Today, October 25, 2005)

More Perfect Labor Storm facts.


Ira S Wolfe