There are the numbers from the democrats and Obama;
and then there is REALITY . . . . SHOCK and AWE!
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From REAL CONSERVATIVE member Wayne Mercier
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22 Facts About The Coming Demographic Tsunami That Could Destroy Ou...
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- Today, more than 10,000 Baby Boomers will retire. This is going to happen day after day, month after month, year after year until 2030. It is the greatest demographic tsunami in the history of the United States, and we are woefully unprepared for it. We have made financial promises to the Baby Boomers worth tens of trillions of dollars that we simply are not going to be able to keep. Even if we didn’t have all of the other massive economic problems that we are currently dealing with, this retirement crisis would be enough to destroy our economy all by itself. During the first half of this century, the number of senior citizens in the United States is being projected to more than double. As a nation, we are already drowning in debt. So where in the world are we going to get the money to take care of all of these elderly people?
1. Right now, there are somewhere around 40 million senior citizens in the United States. By 2050 that number is projected to skyrocket to
89 million.
2. According to the Employee Benefit Research Institute,
46 percent of all American workers have less than $10,000 saved for retirement, and
29 percent of all American workers have less than $1,000 saved for retirement.
3. One poll discovered that
26 percent of all Americans in the 46 to 64-year-old age bracket have no personal savings whatsoever.
5. 67 percent of all American workers believe that they "are a little or a lot behind schedule on saving for retirement".
6. A study conducted by Boston College's Center for Retirement Research found that American workers
are $6.6 trillion short of what they need to retire comfortably.
7. Back in 1991, half of all American workers planned to retire before they reached the age of 65. Today, that number has declined to
23 percent.
8. According to one recent survey,
70 percent of all American workers expect to continue working once they are "retired".
9. A poll conducted by CESI Debt Solutions found that
56 percent of American retirees still had outstanding debts when they retired.
10. A study by a law professor at the University of Michigan found that Americans that are 55 years of age or older now account for
20 percent of all bankruptcies in the United States. Back in 2001, they only accounted for 12 percent of all bankruptcies.
11. Today,
only 10 percent of private companies in the U.S. provide guaranteed lifelong pensions for their employees.
12. According to Northwestern University Professor John Rauh, the total amount of
unfunded pension and healthcare obligations for retirees that state and local governments across the United States have accumulated is
4.4 trillion dollars.
13. Right now, the American people spend approximately
2.8 trillion dollars on health care, and it is being projected that due to our aging population health care spending will rise to an astounding
4.5 trillion dollars in 2019.
14. Incredibly, the United States
spends more on health care than China, Japan, Germany, France, the U.K., Italy, Canada, Brazil, Spain and Australia combined.
16. When Medicare was first established, we were told that it would cost about
$12 billion a year by the time 1990 rolled around. Instead, the federal government ended up spending
$110 billion on the program in 1990, and the federal government spent approximately
$600 billion on the program in 2013.
17. It is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to
73.2 million in 2025.
18. At this point, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately
$328,404 for every single household in the United States.
19. In 1945, there were
42 workers for every retiree receiving Social Security benefits. Today, that number has fallen to
2.5 workers, and if you eliminate all government workers, that leaves only 1.6 private sector workers for every retiree receiving Social Security benefits.
20. Right now, there are approximately
63 million Americans collecting Social Security benefits. By 2035, that number is projected to soar to an astounding
91 million.
22. The U.S. government is facing a total of
222 trillion dollars in unfunded liabilities during the years ahead. Social Security and Medicare make up the bulk of that.
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and of course there is our fearless feckless leader and thief
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OBAMA
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