Number of Social Security beneficiaries hits new record
According to the Social Security Administration, Social Security now has a record number of beneficiaries – 61,859,250. That includes retirees, spouses, survivors, and disabled workers. Compare that to about 153,918,000 workers, and the ratio of workers to beneficiaries sits at about 2.49 to 1, way down from the 15 to 1 ratio that existed in the 1950’s. Since Social Security is a “pay-as-you-go” system where current workers pay for current beneficiaries, it’s easy to see why Social Security has financial issues which loom ever larger as time goes by without Congressional action to fix the problem. This creators.com article by Terrence P. Jeffrey takes a statistical view of Social Security and the national debt.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security.
To review the creators.com article by Terrence P. Jeffrey, click here.