Labor Dept. Data: Only 1.75 Full-Time Private Sector Workers Per Social Security Recipient

Posted By on September 12, 2011

Bad seats…hey buddy!  Epecially if you’re a baby boomer!  We all need to plan well after reading this.

From (CNSNews.com) …. There were only 1.75 full-time private-sector workers in the United States last year for each person receiving benefits from Social Security, according to data from the Bureau of Labor Statistics and the Social Security board of trustees. 

In its latest annual report, the Social Security board of trustees reported that the federal government’s total revenue from Social Security taxes in 2010—$544.8 billion—was not enough to cover Social Security’s total benefit payments—$577.4 billion.

The 93.641 million full-time private sector workers last year worked out to 1.75 for each person receiving Social Security benefits.

These 93.641 million full-time private sector workers were the foundation of the tax base that supported both government at large and Social Security in particular.

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