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Originally Posted by yads
Sure I agree with you that would be the case if the population wasn't growing. Or are you trying to say that most of that growth is from immigrants that are past working age? That said a ponzi scheme is by definition doomed to fail. We're not talking about a scheme where each worker needs to be replaced by 2 workers. So in the event where your ageing population is supported by less people, either taxes must be increased or benefits must be decreased. The government of Canada is starting down that path with the changes to CPP.
Which program?
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Both Social Security and Medicare, according to the Trustee's own report.
http://www.ssa.gov/oact/trsum/index.html
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Projected long-run program costs for both Medicare and Social Security are not sustainable under currently scheduled financing, and will require legislative corrections if disruptive consequences for beneficiaries and taxpayers are to be avoided.
The financial challenges facing Social Security and Medicare should be addressed soon. If action is taken sooner rather than later, more options and more time will be available to phase in changes so that those affected can adequately prepare
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