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.

Former senior COVID adviser for the Biden administration Andy Slavitt suggested Americans should have "sacrificed a little bit more" to get through the pandemic during an interview with CBS' "This Morning" earlier this week.

Asked by host Tony Dokoupil how much of the pandemic was preventable, Slavitt responded by first blaming the Trump administration, then all Americans in general for not sacrificing enough.

"We obviously had a set of technical mistakes with the testing and the PPE that we know about. But if we're honest, there were also two other mistakes, that caused a lot of loss of life. One was just plainly political leadership mistakes. We denied the virus for too long under the Trump White House. There was too much squashing under divisions," Slavitt said.

"But I also think we all need to look at one another and ask ourselves, 'What do we need to do better next time?' And in many respects, being able to sacrifice a little bit for one another to get through this and to save more lives is going to be essential. And it's something that I think we could all have done a little bit better on," he continued.

On the radio program, Glenn Beck had more than a few fiery words for Slavitt, who is apparently unaware of the terrible toll this pandemic has had on the mental, physical, and emotional health of millions of Americans.

"We could have sacrificed a little bit more?" he asked. "So, the sacrifice of [nearly] 40% of all businesses now being closed, I mean permanently out of business ... was that sacrifice good enough? Or the fact that teen suicide now is up by 31%? A few more of us should have sacrificed our children, you know, throw them up on the altar of Anthony Fauci? I think we could have done it, right?"

"Go to hell," Glenn added. "Who do you think you are, telling us that we should sacrifice more?"

Watch the video clip below to hear more from Glenn Beck:


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President Joe Biden and world leaders are spending the week discussing the biggest issues across the globe. But Mike Pompeo, former Secretary of State during the Trump administration, believes more needs to be done.

Pompeo joined the "Glenn Beck Radio Program" Tuesday to talk about President Biden's upcoming meeting with Russian president Vladimir Putin, and to explain why he believes it's not just "appropriate," but necessary to hold Putin accountable for the recent cyberattacks on the Colonial Pipeline and the JBS meat processing company.

Pompeo said it's likely that "at the very least" Putin turned a blind eye to the major attacks against U.S. infrastructure. He stressed that the Biden administration should not abandon private businesses in the face of these ransomware hacks, but rather do everything possible to make sure those businesses' assets are secure from future invasions.

"This is an attack on America," Pompeo said. "It came through an attack on a commercial enterprise, but the capacity for pipelines to move product around on our east coast is an American national security interest.... We have to help these businesses protect their systems, and then there has to be a national effort to impose costs on those who put American lives at risk by denying available product around our country.

"Putin, at the very least, is turning a blind eye to [the cyberattacks], probably more. So, it's appropriate to hold Vladimir Putin and the Russians accountable for the actions taking place inside of their country," he added. "We have to do it, and there are tools by which we can."

Watch the video below to catch more of the conversation:

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On "The Glenn Beck Radio Program," Glenn read from the Bible's II Timothy 3, in which Paul warns of "perilous times" to come and describes a generation that will be lovers of themselves, lovers of money, boastful, proud, abusive, disobedient to their parents, ungrateful, unholy, without love, unforgiving, and the list goes on. Sound familiar?

But Glenn said the times we're facing — which will likely become more and more difficult — are not any graver than what our Founders faced. We can overcome, and while it won't be easy, it will be worth it.

"Just like George Washington and the badge of merit, we will not be able to conquer this evil unless we are on God's side. If we don't have Divine Providence, we will not be able to survive. The things that are arrayed in front of us, are no greater no less than what our Founders had arrayed against them," Glenn stated.

"So, what will we do? You must make those decisions, as a family, right now. What is the line for you that you and your family will not cross? Because if you don't know it now, you will cross it," he warned. "You have to speak out, be that voice. You have to be strong enough to lead."

Glenn went on to thank and praise his audience, saying, "This is the kindest, most generous audience I have ever encountered."

"You will stand. This audience could be the extra 5% that is needed to change things, for the better," he added. "We have great and glorious times, when I believe we will see the hand of God. We will see miracles. Expect them. And live in such a way where you can call them down."

Watch the clip to get Glenn's take on what's coming next and how to prepare yourself and your family.

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How many times must the corporate media get something completely wrong — and attack anyone who dares to disagree — before we realize who they have become?

On the radio program Friday, Glenn Beck shared an article from the Daily Caller titled, "Eight Anti-Trump Narratives the Media Finally Had to Admit Were False All Along." From the Lafayette Square controversy to the denial that COVID-19 could have anything to do with a lab in China to the "Russian bounties" story, the list of mainstream media conspiracy theories goes on and on. If it were anyone but the liberal media who got the facts this embarrassingly wrong, they would have been out of a job long ago.

Watch the video clip below to hear eight of the most anti-Trump the narratives shamelessly pushed by the media — that were completely wrong.


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To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.