People forget how much was going right in the 90s, especially in the states. Boomers were in their prime working years (paying into Social Security instead of collecting it), women’s participation in the workforce had hugely expanded, and a decade of strong economic growth and job creation meant more people working, lower unemployment, and more money going into the system. Obviously some of that was demographic luck, but the Clinton economy was actually putting people to work.
Why did it increase in the 90s and stabilize for a decade?
People forget how much was going right in the 90s, especially in the states. Boomers were in their prime working years (paying into Social Security instead of collecting it), women’s participation in the workforce had hugely expanded, and a decade of strong economic growth and job creation meant more people working, lower unemployment, and more money going into the system. Obviously some of that was demographic luck, but the Clinton economy was actually putting people to work.