The Social Security Crisis :: essays research papers

The Social trade protection CrisisThe Presidential election go away be overture up this November and thequestion that many of Americans comport on their mind is what are you going toabout the Social Security crisis? This question has our nation change integrity betweengenerations. The elder people of our nation (ages 50 and up) fell overconfident thatSocial Security willing be in that location for them and that it should be left over(p) alone. On theother hand the Baby Boomers (ages 31-49) and Generation X (ages 18-30) want thisconfidence fearing that they will never receive Social Security, and the cashthey ascribe in would be a waste. Many politicians are afraid to consult this issuebecause the elder still make a large human activity of the voting block. Speaking as amember it is our duty to suffrage for change in Social Security to ensure we willhave something to look forward to when we retire. We can not wait any protracted todefeat this crisis.For those who dont know the Social Security crisis is the threat thatSocial Security may go bankrupt. Well its more than just a threat its thereality. The common belief is that Social Security is a saving monetary fund where thegovernment takes a certain percentage out of our weekly pay. wherefore that money isput into a savings fund where it is held until you retire. When they retiremoney is returned to them in monthly checks plus the interest. This is wherethey are wrong. Social Security is a pay-as-you-go system where the currentworkforce pays for the present retirees, and then when they retire they willdepend on the workforce and so on and so on. Which is beauteous when you always havemore workers then retirees. This is the problem the government will face whenthe Baby Boomers retire in the family 2010. In 1950 there were 7.2 workers foreach retiree. Today there are 3.2 workers for every retiree, an by the year2020 there will only be 2.