why is the Social Security Administration facing a funding problem?
Life expectancy is increasing slower than expected, so people are not living as long as thought.
Younger people are no longer paying as many retirement taxes as in past generations.
The number of elderly Americans is growing quickly, so more money is going out than coming in.
An unequal amount of taxes is being allocated to Medicare and Medicaid services.
The number of elderly Americans is growing quickly, so more money is going out than coming in.
Explanation:
The Social Security Administration is currently facing a problem that is common in developed countries. As the population ages, there is a large number of elderly people and a smaller number of young workers. This means that more money is being used for pensions than the money that is coming in. This affects the elderly people, but it can also have an impact on the young workers, as it makes it more likely that their pensions might be affected in future decades.
