Thursday, January 03, 2008

Social Tsunami Warning

Get ready for a 78 million person wave swamping Social Security. Baby boomers start retiring this year. The biggest population wave in American history is about to start straining the system.

Not necessarily a bad thing. Take this quote from the Milwaukee Journal Sentinel:
"The beauty of Social Security to me is that all the money (that goes to retirees) goes right back into the economy," says Stephanie Sue Stein, director of the Milwaukee County Department on Aging. "It's money that is being spent, which is why we're never going to have another Depression."

Social Security covers 50 million people today. By 2030, it could be 84 million. (Journal Sentinel)

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