This article is old (2009) but the situation has only gotten worse since it was first published
While many people worry about the billions of dollars spent bailing out banks, auto makers and other sectors, shortfalls in Medicare and Social Security are what could ultimately sink efforts to revive the U.S. economy. As 78 million baby boomers begin to retire, funding for the government's two...
knowledge.wharton.upenn.edu
Two points to consider.
One is that this article was in 2009, which was right during the 2008 recession Obama was desperately trying to deal with.
That recession was caused by irresponsible real estate deals financed by short term loans with balloon payments.
And it was car makers who needed bailing out the most.
The only complaint I had against Obama's strategy is that he bailed out mortgage lenders instead mortgage buyers.
The cost would have been the same, but would have avoided the evictions.
The other point is that the Boomer generation with its large demographic started around 1950, so then obviously would then impact SS around 70 years later, in 2020.
So the article was anticipating a theoretical, which is now 5 years into this being actual.
And it does not look so bad any more, in my opinion.
We have not had a SS shortfall of significance yet, one is not estimated until 2033, and should only last 5 years or so.
So I am not too worried.
I think it is going to just be a short and small blip.
