Senior Boomers of Destruction

Here’s an interesting fact I learned while I was doing some research for my TMP:

Our senior population is expected to double by 2030.

Why is this? It was all that wanton reproducing that went on in the 70’s and 80’s, creating a huge statistical tidal wave of babies who will all pass the age of 65 by 2030. In just a few years, it could be the largest economic catastrophe ever faced by our nation.

Does it really need all this drama? The answer unfortunately, is yes. Right now, the situation is looking pretty rosey because all those boomers are still working and bringing in just a ton of money. Turn retirement, a huge number of highly skilled, high-income bearers will no longer be bolstering the US economy, leaving a gaping hole in their wake. Coupled with the fact that our education system is in literal shambles, we will soon be facing an alarming deficit of qualified, sufficiently-educated individuals to take up the reigns. Rather than reach into the human resource coffers of other countries, it is more likely that large corporations will find refuge on foreign soil. As an ominous beacon of things to come, foreign companies such as BMW are already tapping America’s workers as a cheap, semi-skilled labor source (yes, they outsource to us). Take into account a senior citizen’s increasing medical costs and needs (several times more than any prior senior citizen generation), we’re facing a wall of cash vacuums in medicare, medicaid, and social security that will become palpable almost overnight, and with little warning. These tax-generated funds will be sucked dry (or more accurately, “more in debt”) and will in turn be used primarily on consumables, which again will do little to solve our situation.

Long story short, if something isn’t done to address the incoming needs of the growing senior citizen population, the US could be in some serious trouble. And no, more debt is not an option.

Learn more!:
www.whitehouse.gov/cea/three-quest-soc-sec.pdf
http://www.washingtonpost.com/wp-dyn/articles/A59227-2005Mar23.html
http://www.heritage.org/Research/Budget/wm1867.cfm
http://www.nytimes.com/2006/05/02/washington/02benefit.html?_r=1&oref=slogin

~ by bioscigrad on May 11, 2008.