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Demographic Time Bomb in Pictures and Dollar Amounts; Ratio of S. Sec. Benef. to Workers Exceeds 50%

Posted on August 9, 2012 by Kendall Harmon

Quick Stats[:]

As of 2012-06 the civilian labor force was 155,163,000
As of 2012-06 there were 111,145,000 in the private workforce
As of 2012-06 there were 56,174,538 collecting some form of SS or disability benefit
Ratio of SS beneficiaries to private employment just passed the 50% mark (50.54%)

….As of May 2012, the outlays are $756.9 billion annualized. Fewer worker relatively speaking, support more and more recipients with exponentially growing payments. This is supposed to work?

Read it all from Mish’s economics blog (another from the long queue of should-have-already-been-posted material).

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Aging / the Elderly, America/U.S.A., Budget, Census/Census Data, Credit Markets, Economy, House of Representatives, Labor/Labor Unions/Labor Market, Medicare, Middle Age, Office of the President, Politics in General, Psychology, Senate, Social Security, Taxes, The National Deficit, The U.S. Government, Young Adults