No ostriches over at USA Today, no sirree. In a front page story entitled, “Social Security Gets Stretched, Strained by Long Retirements”, Dennis Cauchon lays out the plain facts about the demographic shifts eroding Social Security. Among other facts, the average life expectancy was 63 when Social Security’s original retirement age of 65 was set in 1935. Today, life expectancy is 77. For those who live to 65, life expectancy is 83. Logic compels the conclusion that the system just can’t keep up.
Click here to see Cauchon’s article, long on facts, short on editorializing. What a concept. Maybe Hendrik will see it. Nah, he probably doesn’t read USA Today.
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