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.

Soros is trying to elect MORE TEXAS RINOs. Here's how YOU can stop him.

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Texas is under threat of a George Soros-backed takeover.

Soros-funded RINO judges have been elected in some of the highest courts in Texas. These judges implemented restrictions that have blocked nearly a thousand cases of voter fraud from being investigated or prosecuted from across the state. These new restrictions are similar to ones in place in states like George, Arizona, and Wisconsin, leaving Texas more susceptible to election corruption than ever. If Texas falls to corruption, America will lose its largest bastion of conservative electoral power in the nation. Without Texas, Republicans WILL NOT be able to win national elections and liberal corruption will go unchecked across the country.

Fortunately, there is a way to stop this: YOU.

If you live in Texas you have a chance to stand up against corruption and to fight back! Starting Tuesday, February 20th, early voting for the primaries begins, where three of these judges are up for election. Go out and vote. If the right people are voted in, there's a good chance the restrictions will be lifted and election fraud can once again be prosecuted.

But remember, you can't just go in and vote for anyone who has an "R" next to their name. Sorors knows that a registered Democrat would never stand a chance in Texas, so his lackeys register as Republicans and ride the little "R" right into office. So who do you vote for?

Fortunately, Glenn had Texas Attorney General Ken Paxton on his show today and Ken gave us his list of judges that he vouches for. His list is as follows:

  • Gina Parker
  • Lee Finley
  • David Schenck
The Primary Election runs from February 20th to March 5th. This is your chance to get out there and make a difference. It might be the most important election you ever participate in. If you need to know where your nearest polling location is, or any other information regarding the election, you can go to votetexas.gov to find out more.
It's time to stand up.

Hypocrisy EXPOSED: The 'Amazon Files' and what WE are doing about it

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Who is really banning books?

For years now, Conservatives have been taking flak from the left for supposed "book bans." The left likes to compare these "bans" to Nazi book burnings, accusing the right of sweeping authoritarian decrees designed to suppress information. In reality, this is a movement largely motivated by parents, who want to remove inappropriate books from children's libraries.

But if you want to discuss authoritarian book bans, look no further than the White House. As Glenn recently covered, the Biden administration has been pressuring the world's largest bookseller, Amazon, into suppressing books they disagree with.

On February 5th, 2024, Ohio Representative Jim Jordan released a slew of subpoenaed documents that exposed pressure placed on Amazon by the Biden Administration. The documents, which Jordan dubbed "The Amazon Files" after Elon Musk's "The Twitter Files," revealed an email conversation between Andrew Slavitt, a former White House senior adviser, and Amazon employees. In these emails, Slavitt complained that the top search results for books on "vaccines" were "concerning" and then requested that Amazon intervene. Amazon initially refused, not out of some altruistic concern for the free exchange of information. They thought any action taken would be "too visible" and would further exasperate the “Harry/Sally narrative,” referring to the outrage that followed Amazon's removal of Ryan T. Anderson’s book When Harry Became Sally.

Despite this initial refusal, Amazon agreed to meet with the White House a few days later. The number one item on their agenda was removing books from the website. An Amazon employee even admitted that the reason they even took this meeting was due to the pressure being placed on them by the Biden Administration.

What was the result of this meeting? Amazon caved. They began to implement ways of limiting the outreach of books that challenged the mainstream vaccine narrative and other books the White House might not like.

The White House was caught red-handed pressuring the world's largest bookseller to restrict the sale of books they consider in opposition to their narrative, and they have the gall to accuse conservatives of information suppression. This is just ONE of many actions committed by the Biden Administration that are more characteristic of a dictator than a president.

What can you do about it? Fortunately, you are not dependent on Amazon and its corrupted algorithm to help you find books. Every week right here on GlennBeck.com, we highlight books that Glenn is reading or talking about in our "Glenn's Bookshelf" series. Here you can find a wide selection of books free from Amazon's filters. Be sure to sign up for Glenn's newsletter to find out about new additions to "Glenn's Bookshelf" every week.

10 times Biden has acted like a DICTATOR

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The left-wing media's most recent tirade is accusing Trump of being a dictator. But, as Glenn said, "Everything they're accusing us of, they're doing."

Since day one, the Biden administration has overstepped the bounds placed on the executive branch set by the Constitution. In Glenn's most recent TV Special, he examined ten times Biden acted like a dictator, NOT a president. Here are 10 of Biden's Dictator Moves, and click HERE to get ALL of the research that went into this week's Glenn TV special:

5 ways to protect your First Amendment rights. Number 4 will surprise you.

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Every day it seems Glenn covers another story revealing how people across the world at all levels of power DESPISE the fact that YOU have rights, and they are actively trying to curtail them. Recently, there has been a string of attacks against the rights outlined in the First Amendment: the freedom of religion, the freedom of speech, the freedom of press, the freedom of assembly, and the freedom to petition.

As a refresher, the First Amendment reads as follows:

"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances."

This is powerful stuff, there is a good reason the Founding Fathers made it the FIRST Amendment. It's also the reason why power-hungry elites are attacking it. These attacks are designed to control the way you think, speak, and believe, vote, what you read, and who holds your representatives responsible. The First Amendment is our strongest weapon against tyrants, and they know it.

So what can you do about it? Hope that some wig in Washinton will eventually do something? We know how well that works. The best thing to do is to stay active, engage in the issues you care about, and exercise your rights.

So where to start? Here are a few things YOU can do to protect your First Amendment rights:

Religion

The best way to flex your Freedom of Religion is to—you guessed it—practice your faith. Become an active member in your place of worship, go to scripture studies, invite your friends to that late afternoon event, and walk the life. This can impact the way you spend money as well. Shop the businesses and brands that share your values, and don't shop at the ones that scorn them. Keeping the community alive and healthy is the best way to ensure that generations to come will be able to experience the freedom you enjoy.

Speech

Much like religion, the best way to protect your freedom of speech is... to speak. Engage your friends and family in polite, civil conversation. Stand up for what you believe in, and make your case to your peers. Just remember to keep it friendly. No one ever won an argument by shouting down their opponent. The civil exchange of ideas is the cornerstone of our republic, and a dialogue where the participants are well-informed, considerate, compassionate, and open-minded can have permanent impacts on all involved.

Press

Freedom of the Press seems a little tricky at first. Unless you work for the media, what are you supposed to do? Quit your job and go work for the local newspaper? The good news is that exercising this right is not nearly that difficult. In fact, you are currently doing it. The best thing you can do is to read from outlets that produce informative content. Want to know what Glenn consumes to stay informed every day? Sign up for Glenn's Morning Brief newsletter to get all the stories Glenn gets sent to his desk every day sent straight to your inbox.

Assembly

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Freedom of assembly is one of the more impactful yet underutilized freedoms in the First Amendment. Peaceably assembling and protesting with like-minded individuals can hugely influence politicians and policies while simultaneously creating community and fellowship between attendees. It's understandable why more people don't turn out. We're all busy people with busy schedules, and flying out to D.C. for the weekend seems like a daunting task to many. Thankfully, you don't have to go out all the way to D.C. to make a difference. Gather some like-minded people in your town and bring awareness to issues that impact your community. Big change starts locally, and exercising your freedom to assemble can be the catalyst to lasting impact.

Petition

If you've been a long-time listener of Glenn, then you will have heard a few of his calls to action where he asks his audience to contact their representatives about a particular piece of policy. There is a good reason Glenn keeps on doing those: they work. Whether it's your local mayor or your senator, a call and an email go a long way. If you really want to make a change, convince your friends and family to reach out as well.