In the October 2003 Elliott Wave Theorist ( page 8 ) there is the forecast that by the time this economic collapse is over "Social Security in its current form will fail."
Today, it is no secret that the population of the United States is aging and as more people over the age of 65 retire the strain on Social Security to pay benefits will continue to increase.
The question is, will it get to the point where it may not be able to pay any benefits at all?
Well, the Congressional Budget Office has updated its Social Security projections, for both outlays and revenue, and their chart (shown below) shows that Social Security is about to go negative real soon:
Because the ratio of workers to dependents is declining and the economic situation will continue to deteriorate, which equates to tax receipts declining as well, Social Security in its current form has to change or it will fail.
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