Excellent article. I think that the payor-payee ratio for social security was 17 to 1 in the 1930s and today is about 3 to 1. Clearly unsustainable. Financial blow up will probably happen at the state level before the federal level because states don't have money printing presses. I wrote an article a couple a months ago about how underfunded public sector pensions in NM are. As of 6/30/22, just the UNFUNDED liability of PERA, ERB and the health plan was over 18 billion which, when divided by NM's 2.1 million population, is about $8900 per capita. Ouch. Subject is NEVER discussed in NM's stellar drive by media.
Excellent article. I think that the payor-payee ratio for social security was 17 to 1 in the 1930s and today is about 3 to 1. Clearly unsustainable. Financial blow up will probably happen at the state level before the federal level because states don't have money printing presses. I wrote an article a couple a months ago about how underfunded public sector pensions in NM are. As of 6/30/22, just the UNFUNDED liability of PERA, ERB and the health plan was over 18 billion which, when divided by NM's 2.1 million population, is about $8900 per capita. Ouch. Subject is NEVER discussed in NM's stellar drive by media.