As population growth goes to zero, the population becomes older. When Social Security was implemented there were lots more young folk than old folk, and due to rapid population growth rates, the ratio was increasing.
Now, with near zero growth, the number of young people paying into SS is decreasing while the number of old folk is increasing.
You do the math.
Conservatively, in the developed world, there will be about 2 workers for every SS recipient by 2050.
Of course that's not accounting for potentially huge losses due to drought, flood, heatwaves, storms and desease brought on by the warming climate.
On Age Distribution of Zero-growth Population
We'll have to survive without it.
ReplyDeleteI think folks so near retirement now will be ok... but certainly not your kids or mine.
ReplyDelete