RSSThe Spending Trend is Not Sustainable
The term tipping point can be applied to a process in which, beyond a certain point, the rate at which the process continues will increase dramatically. The budget of the United States has reached its tipping point. A recent event could have, in fact, marked the point in time. The first Baby Boomer—born January 1, 1946—has applied for early retirement at age 62 and received her first Social Security check. On the chart, an upturn in the Medicare growth rate can be detected in 2011 when the first Baby Boomers turn 65. Thereafter, the number of retirees continues to increase while the number of workers per retiree continues to decrease. The pyramid scheme has collapsed.
56 Responses to “The Spending Trend is Not Sustainable”
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December 29th, 2008 at 1:45 pm
In my opinion, early retirement should no longer be an option. Full benefits should only come after 5-10 years in the system and the age people qualify should be extended (given the fact that people live longer). If you didn’t save enough to cover your needs, then you either keep working or learn to live within your means. No one is guaranteed a certain standard of living, whether we like that fact or not.
Medicare and the like needs to be more like normal health insurance…deductibles, co-pays and the like. Moreover, standards of health need to be set. If you are obese or a smoker…you pay more or don’t get coverage. Make the wrong choices in life? Don’t expect society to bail you out.