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Schneed10 · 12-23-2010, 11:08 PM

I think Social Security is a big area where benefits will be adjusted one of these days. When it was put into place they made the retirement age 65, people didn't live much longer than that. Now the retirement age is still 65 but a lot of people are living into their 80s. Obviously that's a drain on the system.

With baby boomers retiring the funds will be drawn down and will run out of cash somewhere between 2030 - 2040. They have no choice, they will have to push back the retirement age or cut benefits.

Of course they could modify the investments in the program's portfolio, that would solve a good portion of the problem.

12-23-2010, 11:08 PM	#2
Schneed10 A Dude Join Date: Feb 2005 Location: Newtown Square, PA Age: 46 Posts: 12,458	Re: Austerity I think Social Security is a big area where benefits will be adjusted one of these days. When it was put into place they made the retirement age 65, people didn't live much longer than that. Now the retirement age is still 65 but a lot of people are living into their 80s. Obviously that's a drain on the system. With baby boomers retiring the funds will be drawn down and will run out of cash somewhere between 2030 - 2040. They have no choice, they will have to push back the retirement age or cut benefits. Of course they could modify the investments in the program's portfolio, that would solve a good portion of the problem. __________________ God made certain people to play football. He was one of them.