As currently structured, entitlement programs can’t keep up with longer life expectancies and changing demographics. Soon, one-third of Americans will be retired and will spend one-third of their lives in retirement. Meanwhile, the ratio of workers to retirees has dropped precipitously. During this decade and the next, the number of Americans 65 or older will jump 75 percent, while those of working age will nudge up by just 7 percent. Within a decade, the total price for Social Security, Medicare and Medicaid will reach $3 trillion a year, but we’ll have fewer workers paying into the system and supporting those growing costs (R. Bruce Josten, 6/25).
Leave a Reply
You must be logged in to post a comment.