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Demographics are main reason for imperiling of Social Security Posted on:6/17/2009
Written By: Chris Robideaux
| With aging baby boomers retiring early, and a diminishing younger workforce, Social Security is facing a cataclysmic event, should necessary reforms not occur. |
Social Security as we know it continues its breakdown. There are many reasons for Social Security’s long-range financing problems, but the main one is demographics. Many people are living longer and healthier lives than ever before. When the Social Security program was created in 1935, a 65-year-old American had an average life expectancy of about 12 1/2 more years; today, it is 18 years and rising.
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