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The continuing decline of social security can be attributed to two leading factors: (a) The poor condition of today’s economy; and (b) the retirement of the baby boom generation. When combined, these two factors pose a significant threat to the present and future strength of the social security system.
The baby boom generation is composed of Americans born during the late forties and to early fifties. This massive population, all nearing retirement, will cause the beneficiary costs of social security to increase from 48 million to 89 million by the year 2035 (socsec.org). Experts also foresee trust fund exhaustion by the year 2042, and as a result, only 73 percent of promised benefits will remain for future retirees...
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