This podcast episode delves into the impending "Peak 65" crisis, as America braces for an unprecedented wave of retirees starting in 2024, which poses significant challenges for Social Security on the brink of exhaustion. It unravels the history of aging in America, noting how Social Security has redefined old age and the evolution of support systems for the elderly. The discussion extends to early pension proposals, highlighting the radical Townsend Plan, and the influential role of the Fraternal Order of Eagles in shaping the Social Security Act. Finally, it analyzes the potential solutions and necessary adaptations for the financial sustainability of retirement benefits as both the Baby Boomer and Millennial generations approach their golden years.
