Tuesday, June 10, 2014

Top heavy populations

NCPA reports about Social Security for retirees:

As baby boomers transition into retirement, the system will see serious strains. Within 15 years, the number of Americans reaching retirement age will increase by a staggering 70 percent, while the number of Americans of working age will increase by just 6 percent.
  • In 1935, when the program started, 17 workers paid for the benefits of one retiree. By 2035, estimates indicate that just two workers will be paying for the benefits of a single retiree.
  • The program is expected to run out of funds by 2038.

And this is the US, a country that shares fertility rates at or above replacement with NZ, reasonably rare amongst English-speaking countries. Many European and Asian nations are in more precarious positions.

1 comment:

Odakyu-sen said...

The governments of these countries have been well aware of the "pig through the python" demographic effect for decades. They have had ample time to deal with the problem.
The boomers enjoyed growing up; now they can enjoy dying.