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Government Accountability Office: Raising the Retirement Ages Affects Older Workers
2013 Social Security Trustees Report in Charts
Social Security provides retirement and disability benefits to 60 million people — nearly one out of every five Americans. As the population ages and the large baby boom generation enters retirement, more and more people will be collecting benefits, while at the same time fewer workers will be paying taxes to support each beneficiary.
In its annual report, the independent trustees of Social Security warned that, absent reforms, this demographic shift will create major financial challenges for Social Security:
Analysis of CBO’s Budget Outlook: Fiscal Years 2012-2022