Like any good Ponzi scheme, Social Security needs a steadily expanding pool of new entrants. With the declining birthrate it is getting a shrinking pool. From Mac Slavo at shtfplan.com:
Here’s more evidence that the “recovery” never really happened, and good reason to think that the entire social net structure is doomed to fall apart.
The birthrate, long tied to economic growth, has been dropping to its lowest point in recorded history – both nationally and, in particular, in the state of California.
This demographic shift is bad news for the economy – in terms of housing, consumer markets, and especially for the long-term funding of social security, medicaid, medicare and other obligations that younger generations have typically been expected to pay into.
Whether or not you agree with the system in place, the fact that it is virtually certain to go bankrupt before the generation of baby boomers shift off this mortal coil should be troubling to everyone planning a future in the United States.
Official numbers show that the birthrate began to steadily decline in 2008 when the crisis hit and – unlike even during the Great Depression – hasn’t ever picked back up. 2016 saw the lowest point ever for California, even with higher births from immigrants factored in.
via the L.A. Times:
California’s birthrate dropped to its lowest level ever in 2016, according to data released by the state’s Department of Finance.
Between July 2015 and July of this year, there were 12.42 births per 1,000 Californians, the agency said this week. The last time the birthrate came close to being that low was during the Great Depression, when it hit 12.6 per 1,000 in 1933.
To continue reading: Why Social Security Is Doomed: “Birthrate At Lowest Level on Record”… And the Future Is Unfunded
