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Veteran Advisor
Posts: 894
Registered: ‎07-21-2010

Re: Here you go Don

   I was reading earlier this morning on the website below about SS. It's a pretty good article about it with a few graphs to show the increases. This is from another article farther down on the same website.

  There are many Americans that are actually counted as officially employed but are also receiving food assistance.  Think about the data for a second:

People receiving food assistance:                             40.4 million

Official unemployed:                                                      14.6 million

 

 

Broken financial generations – U.S. households only have a median of $2,000 saved in retirement acco...

 

http://www.mybudget360.com/page/2/

 

As of today, nearly 19 percent of all Americans receive some form of Social Security.  Compare this to 1970 when only 12 percent of all Americans received some form of Social Security.  The above chart is merely going to grow even faster as many more baby boomers enter into retirement.  For those in the working to middle class the prospect of a secure retirement is looking more and more remote.  It would be one thing if people had the ability to trust in Wall Street and invest into the market.  Yet Wall Street with no real reform is largely a predator casino as we have seen with flash crashes and large hedge funds making billions of dollars betting on the failure of Americans.

The original Social Security Act was signed in back in 1935.  The initial design was to help the old, widows, and children of the poor to have at least some basic safety net.  It was never designed as a long-term retirement program.  Today, over 50% of those that receive Social Security benefits in retirement use it as their primary source of income.  With Americans living longer, the strain on the system is largely taken on by the working generations.