Boom Goes the American Population
Older Adults are on the Rise!
Review : “Aging U.S. Population” by Andrea Wells , 4-2-18
Wells compiles some fantastic number data in her article revealing that by 2030 all baby boomers will be over the age of 65 which means “1 in every 5 residents will be retirement age”. Considering only Baby Boomer generation— that is 78 million people over the age of 65 in the United States. This number does not include the Silent Generation (born between 1925-1945) many of whom are still living. Summate those numbers together and you have 30% of the United states population being greater than 65 years of age. “‘The aging of baby boomers means that within just a couple decades, older people are projected to outnumber children for the first time in U.S. history,” said Jonathan Vespa, a demographer with the U.S. Census Bureau.’” Let’s let that permeate the room for a moment.
Taking into consideration that American population statistics have shown the age of mortality to be increasing, meaning people are living through their 90s, that’s a huge chunk of people not working. This beautiful group of people who have spent their lives working and building will shift into a generation requiring support as they support their loved ones, suckling off the teat of the Medicare and Social Security system (into which they have been pouring 25% of their paychecks), and wondering how they are going to survive the next 40 years of their life.
It appears that the millennial generation will wake up one day and realize that while they were walking through life in ignorant bliss, entitled to gross amounts of public benefits, individuality, and the right to do whatever it is that they want to do without caring for family or community…. they are actually becoming the minority. Wells states, “By 2020, there will be about three-and-a-half working-age adults for every retirement-age person. By 2060, that ratio will fall to just two-and-a-half working-age adults for every retirement-age person.” This means that the individuals who are living so freely and unattached now will soon be required to hold a job in order to care for children, parents, and grandparents. There will be no government dollars to support you. There will be no nursing homes to ‘put’ them. There will be no ‘choice’ for which to fight. According to statistics this trajectory is an inevitability.
The article continues to disillusion the public by revealing that “The 2030s are projected to be a transformative decade for the U.S. population…Net international migration is projected to overtake natural increase in 2030 as the primary driver of population growth in the United States, another demographic first for the country.” In other words, as the United States’ birth rates are slowing, death rates will remain constant, and migration continues to increase which means my 2040, the United States as you know it, will be very different.