In the US, the ratio of Social Security beneficiaries to private employment now exceeds 50%, and we are at the beginning of an era where the few are providing for the many. Shedlock presents a variety of charts dealing with this data.
A quick overview as of June 2012: America’s civilian labour force was 155,163,000; there were 111,145,000 in the private workforce; there were 56,174,538 collecting some form of Social Security or disability benefit; the ratio of Social Security beneficiaries to private employment just passed the 50% mark (50.54%).
“As of May 2012, the outlays are $756.9 billion annualized,” writes Shedlock. “Fewer workers, relatively speaking, support more and more recipients with exponentially growing payments. This is supposed to work?”
To read Mike Shedlock article: Demographic Time Bomb in Pictures and Dollar Amounts
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