Monday, September 2, 2024

Social Security and Medicare are screwing our grandkids

NYTimes:
Under almost every president since 1980, 80 percent of the real growth in domestic spending has gone to Social Security and ... Medicare.

For Example: 

...A 65-year-old couple with average life expectancy and average household income (about $90,000 in 2023) who retires in 2025 would require $1.34 million to finance their benefits, even though they had paid only $720,000.
Younger workers are paying taxes to support generous benefits to retired ones.
So ..., younger generations are more likely to fall into lower-income classes than their parents or grandparents. Nearly a half century ago, it was the reverse. ...
As a result, "...older folks parading in golf carts [while] twentysomethings [are] paying onerous student loans and living with their parents This is F***ed up. 

[Note: this blog limits profanity to this topic.]

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