00:00:00
it's currently estimated that Social
00:00:02
Security will become insolvent by 2033
00:00:05
and Medicare as well shortly thereafter
00:00:08
and at that point the benefits will have
00:00:10
to be cut by 25 to 30% for everybody or
00:00:15
taxes will have to be increased by about
00:00:17
30% it's a math problem it's actually a
00:00:21
simple math problem it's a difficult
00:00:23
political issue around the world the
00:00:26
issue is very consistent populations are
00:00:29
aging fertility rates are declining and
00:00:32
so there simply isn't the demographic
00:00:35
mass of workers that can help support
00:00:39
people in later life to the extent that
00:00:41
they become accustomed and people are
00:00:43
living longer and people are living
00:00:45
longer exactly so what that says to me
00:00:49
is that we're all going to have to work
00:00:50
a lot longer
