Yes, the ‘Graying of America’ is a concern. It is a concern because many older Americans receive Social Security and Medicare benefits. These are entitlement programs which means that Congress pays x amount of benefits to y number of recipients. These entitlement programs may not be able to last because the number of people contributing to these funds is lower compared to the number of people receiving the benefits. There are less workers contributing to the Social Security Trust fund than the number of people receiving benefits. Social Security and other entitlement programs will have to be reformed in order for the programs to stay in place.
The "Graying of America" is not a concern. This is because while the baby boom generation ages we will tighten our belts. We will pay more into social security and pay for their medical expenses, but eventually they will die. When this happens, we will be flooded with resources that had previously been used by many and can use that on one of the smaller generations. Not to mention that once the baby boomers retire, that will open up jobs for a lot more people and since the generations after the baby boomers are smaller, it will also decrease unemployment because there will be more jobs available and less people looking for one. Right now it is difficult because many people are using resources while they are graying, but when they pass away it will open up those resources for a generation that will use way less and give us time to replenish for when we need to tighten our belts again. This is not a concern, just a momentary struggle before we can relax again.
Yes, the ‘Graying of America’ is a concern. It is a concern because many older Americans receive Social Security and Medicare benefits. These are entitlement programs which means that Congress pays x amount of benefits to y number of recipients. These entitlement programs may not be able to last because the number of people contributing to these funds is lower compared to the number of people receiving the benefits. There are less workers contributing to the Social Security Trust fund than the number of people receiving benefits. Social Security and other entitlement programs will have to be reformed in order for the programs to stay in place.
ReplyDeleteThe "Graying of America" is not a concern. This is because while the baby boom generation ages we will tighten our belts. We will pay more into social security and pay for their medical expenses, but eventually they will die. When this happens, we will be flooded with resources that had previously been used by many and can use that on one of the smaller generations. Not to mention that once the baby boomers retire, that will open up jobs for a lot more people and since the generations after the baby boomers are smaller, it will also decrease unemployment because there will be more jobs available and less people looking for one. Right now it is difficult because many people are using resources while they are graying, but when they pass away it will open up those resources for a generation that will use way less and give us time to replenish for when we need to tighten our belts again. This is not a concern, just a momentary struggle before we can relax again.
Delete