I bring this article to my readers today, simply because it is good information for Students to possess. It is relatively long and combines with my disinclination to Post today. The Work is basically a contest of basic numbers going into projections about Social Security, and I will leave it to the Reader to make his own evaluations on the material. There are only some assertions I myself would like to make:
1) The ratio of Worker to Non-Worker cannot go down over the sustained Period in question without Life Expectancy sequences in decline. Counter-cyclical forces will increase the Pay for non-medical labor with such a decline, and the reduced urgency and training gap below medical training will favor alternate labor choice. A reduced medical force, or worse, an inadequately skilled or trained medical force will incite reduced Life Expectancy.
2) A reduced labor force will raise the premium on skilled labor to much greater degree, and any increase in medical costs for Social Security or its benefits can and will be paid by the higher salaries.
3) Privatization of Social Security is dependent on a Stock and Bond gain which is impossible to match over an extended Period, and cannot accommodate the least recession within the entire Time frame.
4) The imperfections of medical practice are already reducing the favorable outcomes for Patients, and the continued usage of both Treatment and Drugs will lead to disease immunities; all inciting far less success in medical treatment at accelerating rates in the coming decades. This will rapidly reduce Life Expectancies in the future. The Reader should be cognizant that slicing off only two years of Life Expectancy for half of the projected Period cuts the budgetary shortfall completely.
5) Food and Clean Water shortages are a far greater fear for all of Us, than is any Social Security deficit. One should recognize that lack of either Substance will radically alter the Social Security problem in a very reduced Time frame. I will not continue to the level of pandemics–everyone realizes what they will produce for Life Expectancy. lgl