As of 2012-06 the civilian labor force was 155,163,000....As of May 2012, the outlays are $756.9 billion annualized. Fewer worker relatively speaking, support more and more recipients with exponentially growing payments. This is supposed to work?
As of 2012-06 there were 111,145,000 in the private workforce
As of 2012-06 there were 56,174,538 collecting some form of SS or disability benefit
Ratio of SS beneficiaries to private employment just passed the 50% mark (50.54%)
Read it all from Mish's economics blog (another from the long queue of should-have-already-been-posted material).
Filed under: * Culture-Watch Aging / the Elderly Middle Age Psychology Young Adults * Economics, Politics Economy Credit Markets Labor/Labor Unions/Labor Market Taxes The U.S. Government Budget Census/Census Data Medicare Social Security The National Deficit Politics in General House of Representatives Office of the President Senate * International News & Commentary America/U.S.A.
Posted August 9, 2012 at 4:40 am
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