Ahhh, the numbers, .... guess who's picking up the tab?? ...

[North Pack]

In 1962 GM had 464,000 workers and was paying benefits to 40,000 retired workers. There was one retiree for every 11.6 employees. The average age at death was 67. GM currently has 62,000 hourly workers and 29,000 salaried workers in the USA. Today GM also has 493,000 retired workers drawing benefits and the average age at death is 77. That is 5.4 retirees for every single active GM worker. Over 75% of the retirees were hourly workers. The average retiree
 

    There is no possible way that a single employee can support 5.4 retirees in the manner they have become accustomed. This is why the UAW has already begun cutting benefits to current retirees as a result of the bailout deal. GM has transferred its liabilities to a trust and as part of the bailout the UAW gets a 17.5% ownership position in GM plus some other payments. When GM comes out of the bankruptcy they will no longer have this monster cash drain. Unfortunately retirees will be forced to live on drastically reduced income levels.

That same disparity (retirees to workers) looms for Social Security.  Welcome to the "new normal."

[Gene_SC]

I see where that SS will be depleted within  years. There goes my income...:(

[shadow]

Oh great guess by the time that I'll need it it will be long gone. I'll be selling camo job's and critter meat in a shack next to the road, get a free Country Rat corn dog with your camo job lol. Ed

[North Pack]

Actually Gene, - you'll get your checks. Of course the dollar will be worth a LOT less, - and to pay for it, everyone's taxes will become huge. The truth is, "we" as voters/citizens have no one to blame but ourselves. "We" keep freely electing the same a-holes, how could that approach "change" anything? ... What's the definition of insanity? ... Doing the same thing over and over, - and expecting (hoping for) a different result.

[Gene_SC]

Here ya go John.....

Wisdom From the Bar

"We Americansgot sotired of beingthoughtof as dumb by the rest of the world thatwe went to the pollslast November and removed all doubt."