Social Security
To put Social Security’s financial crisis in perspective, just consider that if no changes are made in the system it will be more than $12 trillion short of paying its projected benefits over the next 75 years. Oregonians alone will bear more than $141 billion of that cost one way or the other.
Social Security has become such a burden on the American people because it depends on current workers to fund current retiree benefits. Sixteen workers supported each retiree in 1950, but there are only three workers per retiree today, and there will be only two in 2030. This demographic trend guarantees that if we do nothing, we will either see massive benefit cuts or huge tax increases, or both.
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