Ed Pettibone wrote:
Ed; ET, When you say "Things like social security here and in other parts of the world depend on a high payer-to-consumer ratio....we've gone from 14-to-1 to 2.5 or 3-to-1 in the last 70s years. What does the (1) represent. and where are you getting you figures?
But moving on, what biblical mandates for large families do you find other than be fruitful and multiply? Of course that one was given when there where only two people on the face of the earth.
I agree Ed P, the so-called mandate to multiply should not be taken as command these days. Never intended as such.
As for Ed T’s figures - Here
is some data that backs up Ed T's trends. “1” represents the number of beneficiaries. That ratio was even higher than 15:1 in 1940 (~70 years ago when SS started) but in that timeframe spouses/disabled were not covered. Here
is a useful discussion of the issues as does this series
of informational charts.
From the “this series” link:
Under present laws, Social Security will exhaust its trust funds in 2038, and would have to cut benefits by 19 percent to match payroll-tax revenues. Because of the population growth of older citizens, Social Security spending would rise to 6.1 percent of the economy in 2035, from 4.9 percent in 2010.
Does not sound too bad (for most of us). But when you realize that while the US government remains in deficit mode, in a sense that “trust fund” has already been tapped since the 1983 readjustment - Read The Looting of SS
. There are signs that the deficit is improving markedly (down to $642B
for the fiscal year nearing end from over $1T/year in 2009). But another stimulus would improve the long term. Immigration can also help as can eliminating the cap on salaries for high incomers (>$$113,700) on SS contributions. Perhaps by 2038 SS benefits will not have to be reduced by 19% (or SS taxes raised by ~10%, given the ~2:1 ratio) projected in that period.
I am so glad we did not get into privatization of SS as Bush Jr. tried prior to the 2007 recession and 2008 financial crash.
Informed by Data.
Driven by the SPIRIT and JESUS’s Example.
Promoting the Kingdom of GOD on Earth.