Question

Is Social Security a viable program?

Answer 1

Social security: This is the benefit provided by US-federal government to all American citizens those who are unemployed, disabled, diseased, and retired. It is funded by existing workers by their tax payments.

This is not viable. Social security will not survive in 21^st century, because retiring benefits would high in this period. Life expectancy of people would increase over the years due to improved medical technology and treatments. More they live more would be their retirement benefits. On the other side, birth rate decreases dramatically in the country. It will decrease working people in future. Currently there are more than 3 working people for each person’s benefit. But it will go down to 2 working people by the end of 2030. Reduction in working class and increase in retiring age create pressure on social security funding. Arranging funds would be very difficult in future.