The Number of People on Social Security Isn’t Sustainable – Here’s the Problem

What’s going on?

The number of people on Social Security benefits reached a record 61,859,250 last month, according to Social Security Administration data.

CNSNews.com reported that even with the unemployment rate at its lowest since 2000, there are only about two full-time workers for every person on Social Security.

Key statistics:

  • Nearly 62 million people are Social Security beneficiaries.
  • The ratio of workers (including full-time and part-time) to beneficiaries is only about 2.5 to 1.
  • Social Security is heading toward a $12.5 trillion shortfall through 2091.
  • The national debt is at more than $20.6 trillion as of this writing.

What needs to happen next?  

The Social Security board of trustees says Congress needs to increase taxes, cut benefits and/or get some other funds together to pay for Social Security. Whether or not Congress will actually follow that advice remains to be seen.

Learn more about how Social Security works with our explainer here.

This article provided courtesy of TheBlaze.

DOC: Last November saw another record in American history. It's not necessarily a good record. Well, I mean, it's not a bad one. But when you know the full story, it's not a good situation.

In November, nearly 62 million people received Social Security benefits. That is a record high number in American history. Sixty-two million. There are just -- there is just shy of 330 million Americans. Sixty-two million receiving Social Security benefits.

Well, I say, it's not necessarily a bad thing that people are retired and receiving money. That's fine. But when you know the full system and you realize how it's strained and how unsustainable it is, and still, we have not addressed it. When you realize what a Ponzi scheme Social Security is, you realize that's not a good thing. It's not sustainable. It is a failure. Parts of it are absolutely evil. Yeah, you don't hear many people challenge that because for years, Social Security was kind of a third rail. You just accepted, that people wanted and liked it.

Well, yeah, if you're retired and on Social Security and you hear people challenge the notion of Social Security, you're like, whoa, whoa, defend what I'm getting. I would never suggest pulling the rug out from underneath people. But over the long haul, this is a system that has to be changed. Let me explain why. In addition to the 62 million people receiving Social Security, the Bureau of Labor statistics reported that currently there are 126 million full-time workers in the US. So that is just over two full-time workers for each person receiving Social Security.

The notion of Social Security was sold as, okay. Everybody makes money. And you pay into this pot. And it grows. And it makes interest. And when you retire, that money will be there.

That's not really how it is. As soon as the government saw big money, those DC people that just like to spend, as soon as they saw millions and then billions of dollars and hundreds of billions and into the trillions of money into Social Security, they went and robbed that lock box.

Remember the lock box? We'll put it in a lock box. There's no lock box. They took and spent that money and essentially replaced it with IOUs. Don't worry. We took this money for some stuff. We'll always pay those Social Security benefits. Don't worry.

They commingled the monies. Instead of having an account over here that Social Security money, that everybody pays into and then we pay money out of it, they just essentially put it in one big general fund with all the other monies.

Well, since we have deficits every year and a growing national debt that is now over $20 trillion, they have to pay those out of whatever we take in every month.

And knowing that we have all that debt, on top of this, sets up a pretty bleak future unless we do something. When this was sold to people, it wasn't just you'll pay into it. But they also said how many people would be paying into it, versus how many people are taking money out. And at one point, it was five, six people paying into it, versus people taking out.

That's when those Baby Boomers were all working. Huge percentage of the population paying in, with only a small percent taking out.

Right now, 10,000 Baby Boomers retire every day. Ten thousand every day. So now we're down to two people paying in, for everybody that takes money out. And it's not paying in again to that closed fund. It goes into the general fund. At some point, it will be 1-1. And then 1-2.

And we'll be paying for it. That's unsustainable. That means money that we spend or would spend on other things is going to have to go towards this because of a bad system to begin with, and then mismanagement of a bad system.

The mismanagement being not adjusting for inflation, not adjusting for life expectancy, and retirement ages, and adjusting all of these things. But it was failed to begin with, because you don't get the money. Not in every case.

You could pay in and work hard all your life and then die as you retire. You could die the day after you retire and not collect one penny of all that money you paid into it.

Meanwhile, somebody who has barely worked, done the bare minimum, could retire at -- what is it, 67 now?

Maybe a few years ago, retired at 65, and live to be 130.

More -- taking more years than they ever paid into it with the bare minimum and collect and collect. All of these things are possible. It's a failed system.

If you retire having some sort of retirement account you paid into your whole life and died, that money can go to your whole family. Social Security. No. Not unless they're a minor and you die early and then they can collect up until they're 18.

The number of people that scam the system. The fact that Social Security actually is not a livable wage. Unless you paid off your house or something like that and really made good money where you get the upper level, it's not livable by itself. It doesn't adjust for inflation. Let's stop the insanity of Social Security. No. People that are near retirement or retired, not suggesting we pull the rug out from underneath you. Here's the solution: We set a plan in motion to slowly wind -- wind down Social Security over the next ten, 15, whatever years.

Then if you are retired and you're getting Social Security, you will get it even if you live to be 170. If you are near retirement, you will get it. If you're halfway to retirement in there, we're going to have to make some adjustments. You're going to get what you paid into at least. You're going to get some of that money. But you have time to make some other plans. And we can make sure it's a smooth transition so you're not screwed. People on the younger side, on the lower end, you're going to have to pay some monies in, even though you're not going to get some of that out. Frustrating. Horrible. Yeah.

But that's how it's got to be. And we all end up paying for things that we don't want anyways. This is part of the system.

But under the Doc Thompson plan, if we adjust the true for true tax reform, you should be able to have other tax benefits that will offset that so you are in no worse shape. We simply set a true fair and flat tax. And with that, spending reform, where we stop wasting money on stuff we don't need. Winding down stuff like the Department of Education, which just takes a handling fee at the federal level, to redistribute the money back to the states. We stop growing the federal government. And we return that money to the people, with a grand plan like this, we can finally get out from underneath this evil system of Social Security that takes and doesn't always give even though you've worked.

And a system that is unsustainable and likely to go bankrupt anyway. And there's going to be only one way to prop it up if you want it propped up.

When it eventually fails, they're just going to say, we must raise taxes on some level. Or raise your contributions to Social Security significantly, to pay for other people that are on it right now.

It's wrong. I will reluctantly, even though a Libertarian, go along with the idea that we will force people to pay for their own retirement. You must take five, ten, whatever percent we decide and put it into something you can't touch until you're retired. So you'll force them to be responsible. I hate the notion, but versus having Social Security around, I'm fine with it.

We can at least move to that. Because that is a system where you'll at least get what you paid into it. You can at least give it to your children if you die.

Would Glenn make a better bounty hunter or a Jedi? You'll have to find out in a new episode of the Beltway Banthas Podcast, where Glenn goes deep on Star Wars with host Stephen Kent. In this 45 minute discussion, Stephen and Glenn explore the political themes of the Star Wars franchise, Darth Vader's redemption from Return of the Jedi, Glenn's earliest memories of seeing the films and even debate elements of the latest Star Wars films.

If you enjoy the pop culture and nerdy discussions that Glenn, Pat and Stu get into on the radio show, you'll love this! After you're through, you can also check out Stu Burguiere's appearance on Beltway Banthas to talk Star Wars. You can find that here.


It's never too early to start your Christmas, Hanukah, or Kwanzaa shopping. Or even birthday gift shopping. Especially if that special someone in your life is a Democrat. Because at last count, pretty much all the Democrats are now running for president. And that means there has never been a wider selection of official candidate merchandise to choose from. Whether you're into environmentalism, feminism, classism, socialism, or just plain love, there is a smorgasbord of classy items that you and yours will treasure forever... or at least until the next presidential election.

We have browsed each of the candidates' online stores, so you don't have to (it only took us three months). We have curated only the finest items from each of the Democrats running for president of the United States of America. Without further ado, here is your handy progressive gift guide – or maybe your what-not-to-gift guide.

First, the bargain basement options. Hurry! Time is running out to grab your Beto bandana, or your Delaney pack of golf balls, because at this point Stu has as much of a chance as these guys of getting the nomination.

Tom Steyer, for example – is he still in the race?


https://shop.tomsteyer.com/collections/frontpage/products/tom-2020-pattern-tee


There's way too much Tom here. That shirt's got more Toms than a Caucasian dentists' convention.

For the slightly more moderate Democrat in your life, perhaps they'd like to join the "Yang Gang"…

https://shop.yang2020.com/collections/bumper-stickers/products/yanggang-decal


Andrew Yang is a lock for Math Club president…


https://shop.yang2020.com/collections/apparel/products/math-hat


But for actual president? Well, I wouldn't make plans for how you're going to spend your $1,000-per-month Yang allowance just yet.

If you happen to be shopping for your dog, may I suggest this lovely "Dogs for Delaney" dog collar…


https://store.johndelaney.com/products/dogs-for-delaney-collar


John Delaney's definitely going to secure the canine vote with this kind of outreach. As for any human votes, that's another question entirely.

How 'bout this tastefully understated "Natural Canvas" Michael Bennet tote to remind you he's also still here?...


https://store.michaelbennet.com/michael-bennet-for-america-natural-canvas-tote/


Then again, it's a tote. So, it'll end up on the floor of your closet and you won't have it with you until that one random moment when you're out somewhere and you really need a tote bag. Just like Democrats will really wish they had a moderate when we're in the middle of the socialist nightmare of their creation.

Captain Planet himself, Jay Inslee recently dropped out of the race, but don't let that stop you from picking up what may be the greatest single item sold by anyone in this race…


https://store.jayinslee.com/elvis-the-elves-the-mystery-of-the-melting-snow-by-jay-inslee/


A children's book called Elvis & the Elves: the Mystery of the Melting Snow. Written and illustrated by Governor Jay Inslee. Talk about a whodunnit – how could that snow possibly be melting? Spoiler alert: it's because of evil, white, patriarchal capitalism. And Donald Trump.

Then there's the candidate who thinks you're a moron that can't pronounce his last name: Steve Bullock...


https://shop.stevebullock.com/collections/apparel/products/emoji-t-shirt


Get it? Bull. Lock. Oh, so that's how you say the name that sounds exactly how it's spelled.

There's another candidate who also thinks you need help pronouncing his last name…


https://store.peteforamerica.com/collections/apparel/products/boot-edge-edge-t-shirt


And he is definitely right about that. So, thank you, Pete "Boot Edge Edge." That helps.

Just outside the bargain bin section, but just barely, are candidates like Julian Castro and his "El Presidente" t-shirt…


https://store.julianforthefuture.com/julian-castro-loteria-card-white-tee/


When your last name's Castro, do you really want to go with a weird drawing of yourself as if you're a classic Latin American dictator on a postage stamp?

If you prefer a little "dark psychic forces" battling in your candidates, you'll love Marianne Williamson's "Turn Love Into a Political Force" rally sign…


https://store.marianne2020.com/collections/signs/products/love-rally-sign


"Turn Love Into a Political Force" would be an even better title for a Marianne Williamson album of 80s cover songs. And if you think I'm joking, then you haven't heard Bernie Sanders' classic 1987 folk album, We Shall Overcome. That's not a joke. Well, it is a joke, but it's also a very real thing.

Now, just a quick pause to consider the peculiar baby-wear that way too many candidates are selling…

…including Elizabeth Warren's trans-pride flag onesie. Let me get this straight – we can't force any gender on a child, because that's just cruel. But we can force a political advertisement on a baby? How do we know that baby is actually a Biden or Warren fan? The child may not even be a Democrat or a Socialist at all. That baby might self-identify as a Libertarian, or Republican, or even worse – a moderate Democrat.

Now to the premium items from the premium candidates. Elizabeth Warren – the candidate with the most honesty in her advertising…


https://shop.elizabethwarren.com/collections/apparel/products/impolite-arrogant-women-make-history-unisex-t-shirt

-AND-

https://shop.elizabethwarren.com/collections/drinkware/products/strong-american-unions-mug


Warren's merchandise reflects the woman herself – cold and humorless (watch her "This isn't funny" clip from the last debate here at the 4:27 mark). I'm sure she's really fun once you get to know her. Then again, maybe not.

Speaking of serious women, Kamala Harris wants to be president very badly for you, the people, as you can tell from her "For the People" poster…


https://store.kamalaharris.org/poster-for-the-people/


At $29.99 though, she's sure not charging "people's" prices. Of course, she might be having to pay royalties to a certain someone for riffing on their poster. Just saying.

For the race's number one socialist, there's a whole lot of capitalism going on in Bernie Sanders' campaign. He sells so many delightful items that it's hard to choose. But we did anyway. The most random item is this hundred-dollar, black, "Art of a Political Revolution – Artists for Bernie Sanders Coaches Jacket"…


https://store.berniesanders.com/collections/apparel/products/artists-for-bernie-coaches-jacket


Coaches across the land will be clamoring for this one. You know, since coaches are such a strong Bernie-socialist demographic.

If that's a little over your budget you might consider a "Feel the Bern" fanny pack, to help store all those government freebies you'll get from Bernie…


https://store.berniesanders.com/collections/apparel/products/feel-the-bern-fanny-pack


This is the only context in which you'll ever want to hear "feel the burn" and "fanny" in the same sentence.

And finally, from front-runner Joe Biden, we have this fine "Women's Fitted Biden Polo." Which is just about the best polo description ever…


https://store.joebiden.com/collections/apparel/products/biden-polo-womens-fit


It promises the kind of snug approach that Biden loves to provide women. Even when they don't ask.

This was one of the first homesteads in the area in the 1880's and was just begging to be brought back to its original glory — with a touch of modern. When we first purchased the property, it was full of old stuff without any running water, central heat or AC, so needless to say, we had a huge project ahead of us. It took some vision and a whole lot of trust, but the mess we started with seven years ago is now a place we hope the original owners would be proud of.

To restore something like this is really does take a village. It doesn't take much money to make it cozy inside, if like me you are willing to take time and gather things here and there from thrift shops and little antique shops in the middle of nowhere.

But finding the right craftsman is a different story.

Matt Jensen and his assistant Rob did this entire job from sketches I made. Because he built this in his off hours it took just over a year, but so worth the wait. It wasn't easy as it was 18"out of square. He had to build around that as the entire thing we felt would collapse. Matt just reinforced the structure and we love its imperfections.

Here are a few pictures of the process and the transformation from where we started to where we are now:

​How it was

It doesn't look like much yet, but just you wait and see!

By request a photo tour of the restored cabin. I start doing the interior design in earnest tomorrow after the show, but all of the construction guys are now done. So I mopped the floors, washed the sheets, some friends helped by washing the windows. And now the unofficial / official tour.

The Property

The views are absolutely stunning and completely peaceful.