1361 Imm-security

There are three big reasons we had a deep recession rather than a full-blown depression this time around: Social Security, Medicare and Unemployment Insurance. None was in place during the great Depression. Consequently, liquid money completely evaporated from circulating through our economy.
Can you say clot?
Now one of them is in serious trouble. Social Security ain’t so secure, and it’s partly because neither are our borders.
Here’s why. Social Security was founded on a couple of shaky assumptions. First off, the government trusted the life insurance industry to give them accurate mortality tables. Little did they know the life insurance industry was at the time gouging the public by basing those tables on figures from WWI and The Civil War.
Great for them, it meant higher premiums, but bad for the Feds, as it meant they expected people to die quicker. So if you pay Social Security tax all your life, your actual amount paid in, plus interest, would carry you to about age 75.
Um, most retired Americans live to 85 or longer.
That’s actually okay if the other assumption was better. That there would always be lots more younger folk paying in than older folk drawing out. Bad assumption.
Can you say baby boom bulge?
Add to that the last problem the naïve Feds never counted on— outsourcing. Remember all those profit-enhancing jobs American companies sent overseas? That cheap labor isn’t paying into Social Security.
Nor are illegal immigrants in the US.
So here’s the controversial solution. Especially to all the cranky anti-immigrant oldsters currently living past their contribution and actually on the government dole. The only way to save Social Security is to give illegals amnesty.
And get a huge windfall as they start paying in.
Call it immigrant in-sourcing. Or imm-sourcing.
Or imm-security...
America, ya gotta love it.