The long-term viability of the social security system is facing serious issues. People are living longer, the first baby boomers are nearing retirement, and the birth rate is low. The result is that the worker-to-beneficiary ratio has fallen from 16.5-to-1 in 1950 to 3.3-to-1 today. At this rate there will not be enough workers to pay scheduled social security benefits at current tax rates.
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