Friday, March 18, 2016

Social Security recipients top 60 million and payments set record

Link:

The number of people receiving benefits from the Social Security Administration topped 60,000,000 for the first time at the beginning of 2016.

(skip)


In February, there were 151,074,000 people employed in either full or part-time jobs in the United States, according to the Bureau of Labor Statistics’ seasonally adjusted employment numbers. That means the 60,199,914 individuals receiving Social Security benefits during the month equaled 1 per each 2.5 workers.

(skip)

The Monthly Treasury Statement for February says the budget estimate for the Social Security Administration for fiscal 2016 is $991,558,000,000—or $47,415,000,000 more than its record spending of $944,143,000,000 in fiscal 2015.



I previously wrote about how this program along with Medicare will lead to the political dissolution of the US. 2.5 workers cannot support 1 retiree and the worst is yet to come as 10,000 people a day go on Social Security everyday for the next 20 years!

I hope you realize that this will eventually implode on itself. If you have not made plans for supporting yourself in old age without SS you need to get cracking and get a plan together.

That which cannot be paid will not be paid!

No comments:

Related Posts Plugin for WordPress, Blogger...