Who's going to pay for the Baby Boomer's Social Security if young people can't?

[Lynn]

Young people really don't contribute nearly the same amounts as well-established middle-aged people. And young people will be well-established middle-aged people by the time those middle-aged people retire, so the cycle continues fine.

Add to that, it's not like the government is making a quick last ditch effort to fill an empty pot. The pot perpetually loses some money and gains some money. It's never been stationary.

The only real problem is that no politician wants to up the retirement age, but it was first set up to give people who didn't plan on their retirement money IF they surpass the average life expectancy. Originally, when SSI was set up, it was for women who lost their husbands and had always raised their kids, instead of working for a wage. When it was set, the average life expectancy was 58 for men and 62 for women, while SSI was only available for people who lived to 65. Meanwhile, life expectancy has risen greatly, but politicians have only had the guts to up the retirement age to 66. It's too top heavy that way, so it can't continue to be sustained at that rate.

Sadly, if politicians would get the guts to do the right thing and change the retirement age to 75, it would certainly help middle-aged people to get new jobs. The reason bosses use for not hiring people in their 50s and 60s is because they won't be working that much longer. (It is merely an excuse, since the average American has 7 jobs in their working lives, but it would certainly make business and people rethink the idea of spending decades of their lives retired.)

As for young people not being able to get jobs? That lacks any substance to the point of being an urban myth. They used that in every recession since I graduated college, including the recession I graduated during. (Six recessions since the mid 70s.) Just because young people can't get their dream jobs for their first job, it doesn't mean they'll never get a good job. Those willing to lower their standards end up doing well. Those who don't were doomed to fail because of their attitude, not because of the job market.