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The Graying Of America - Online Term Paper

The Graying Of America

Of the total federal expenditures in 1995, Social Security together with
Medicare(federally founded health program aimed at helping the elderly, founded
in 1965) was the largest, accounting for about 34 percent. In 2005 this figure
is predicted to be as high as 39 percent. This is caused by the "graying" of
America and the increased number of elderly who will collect benefits for a
longer portion of their lives, coupled with a reduction of the number of workers
available to pay for their benefits. Increasing costs of living and higher
standards of living (as reflected in higher wages) also are consequences.

In short, if no action is taken in the interim, by approximately 2013 the
federal ...

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demographic makeup of America is changing. The share of the population over
the age of 65 will continue to grow well into the next century. Today,
approximately 13 percent of the population of the United States is over age 65.
By 2030 that percentage will increase to more than 20 percent. Even more
surprising, in less than 50 years, there will be as many Americans aged 80 and
older as there are now people over 65.

People are also living longer; In 1900 life expectancy was 47 at birth, and if
you lived to be 65, your life expectancy was suddenly 77. In 1993 it was 76 at
birth and 82 if you turned 65. At the same time, retirement ages have sunken. So
suddenly there were people living longer, on the government's payroll. Some
people would then draw the conclusion: "If people live longer, they should work
longer," but many elderly people are too tired, and to weak too work after a
life span of just working.

As the "baby-boom" generation begins retiring, around 2010, America will have ...

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The Graying Of America. (2006, February 9). Retrieved May 1, 2026, from http://www.essayworld.com/essays/The-Graying-Of-America/40977

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PAPER DETAILS

Added: 2/9/2006 11:12:58 PM
Category: Government
Type: Free Paper
Words: 979
Pages: 4

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