Baby Boomer's Retirement may cause strain on Economy
*This is my second time typing this out. The first time I completely finished it and I was putting in the hyper links and Firefox completely closed on me. Yea!
According to the Pioneer Press, the first baby boomer had filed for social security. This will be the first of the 80 million people who were born between 1946 and 1964 who are considered the baby boomers. Those 80 million people are expected to be applying through 2027, the Pioneer Press contextualized that and it is 10,000 additional people applying for Social Security each day till then.
An article from the Associated Press was posted on breitbart.com that reported if Social Security and Medicare are not ‘revamped’ the nation’s economy and budget will be in bad shape. It will be a massive strain. In order to avoid that, congress has came up with many ways to increase the budget, i.e. increase taxes.