Matrix Four: Further analysis adds Cohort Born Before Baby Boom:

(Fifth Ed.)

Assume: (8) actual data for yearly births: 1932-1964:

Cohort Born During Baby Boom: 1946-1964 Cohort Born Before Baby Boom: 1932-1945

---------------------------------------------------------- ----------------------------------------------------- Sum ($B):

Count/yr Age Retired Benefits/yr Total Benefits Year Age Retired Benefits/yr Total Benefits 2007-2021

--------- ----- ---------- ----------- --------------- ---- ----- ---------- ----------- --------------- ---------

2007 62-75 33,526,630 x $12K/year = 402,319,560,000 402.3

3,288,672 62-62 3,288,672 x $12K/year = 39,464,064,000 2008 63-75 31,452,588 x $12K/year = 377,431,056,000 416.8

3,699,940 62-63 6,988,612 x $12K/year = 83,863,344,000 2009 64-75 29,371,356 x $12K/year = 352,456,272,000 436.3

3,535,068 62-64 10,523,680 x $12K/year = 126,284,160,000 2010 65-75 27,203,720 x $12K/year = 326,444,640,000 452.7

3,559,529 62-65 14,083,209 x $12K/year = 168,998,508,000 2011 66-75 25,048,615 x $12K/year = 300,583,380,000 469.5

3,554,149 62-66 17,637,358 x $12K/year = 211,648,296,000 2012 67-75 22,903,825 x $12K/year = 274,845,900,000 486.4

3,750,850 62-67 21,388,208 x $12K/year = 256,658,496,000 2013 68-75 20,700,488 x $12K/year = 248,405,856,000 505.0

3,846,986 62-68 25,235,194 x $12K/year = 302,822,328,000 2014 69-75 18,413,526 x $12K/year = 220,962,312,000 523.7

3,902,120 62-69 29,137,314 x $12K/year = 349,647,768,000 2015 70-75 16,147,938 x $12K/year = 193,775,256,000 543.4

4,017,362 62-70 33,154,676 x $12K/year = 397,856,112,000 2016 71-75 13,787,539 x $12K/year = 165,450,468,000 563.3

4,047,295 62-71 37,201,971 x $12K/year = 446,423,652,000 2017 72-75 11,274,112 x $12K/year = 135,289,344,000 581.7

4,163,090 62-72 41,365,061 x $12K/year = 496,380,732,000 2018 73-75 8,465,116 x $12K/year = 101,581,392,000 597.9

4,254,784 62-73 45,619,845 x $12K/year = 547,438,140,000 2019 74-75 5,530,256 x $12K/year = 66,363,072,000 613.8

4,203,812 62-74 49,823,657 x $12K/year = 597,883,884,000 2020 75-75 2,735,456 x $12K/year = 32,825,472,000 630.7

4,244,796 62-75 54,068,453 x $12K/year = 648,821,436,000 2021 --------------- 648.8

--------------- $3,198,733,980,000

Subtotal: $4,674,190,920,000 ==================

4,257,850 63-75 58,326,303 Live Births:

( 3,288,672) 1932-1945 1946-1964

55,037,631 x $12K/year = 660,451,572,000 2022 Year Total Year Total

4,268,326 64-75 62,594,629 ---- --------- ---- ---------

( 6,988,612) 1932 2,074,042 1946 3,288,672

55,606,017 x $12K/year = 667,272,204,000 2023 1933 2,081,232 1947 3,699,940

4,167,362 65-75 66,761,991 1934 2,167,636 1948 3,535,068

(10,523,680) 1935 2,155,105 1949 3,559,529

56,238,311 x $12K/year = 674,859,732,000 2024 1936 2,144,790 1950 3,554,149

4,098,020 66-75 70,860,011 1937 2,203,337 1951 3,750,850

(14,083,209) 1938 2,286,962 1952 3,846,986

56,776,802 x $12K/year = 681,321,624,000 2025 1939 2,265,588 1953 3,902,120

4,027,490 67-75 74,887,501 1940 2,360,399 1954 4,017,362

(17,637,358) 1941 2,513,427 1955 4,047,295

57,250,143 x $12K/year = 687,001,716,000 2026 1942 2,808,996 1956 4,163,090

--------------- 1943 2,934,860 1957 4,254,784

$8,045,097,768,000 1944 2,794,800 1958 4,203,812

================== 1945 2,735,456 1959 4,244,796

Summary: 1960 4,257,850

Average annual retired Baby Boomers: 74,887,501 ÷ 19 years = 3,941,447 1961 4,268,326

Cumulative cost of Baby Boom benefits (19 years): $8,045.0 Trillion 1962 4,167,362

Annual cost of Baby Boom benefits (2021-2026): $648.8 – 687.0 Billion 1963 4,098,020

1964 4,027,490