Pages Menu
Categories Menu

Posted by on Dec 21, 2010 in At TMV | 0 comments

2010 Census Clearly Reveals Reasons For Social Security and Medicare Angst

I just compared age demographic data from the 2010 Census with data from the 2000 Census. And the numbers very clearly reveal the coming economic challenges that will be experienced by both Social Security and Medicare.

Overall, the percentage of the population between 65 and 85-plus grew from 21 percent in 2000 to 23.4 percent in 2010. A small part of this growth was in the 85 and older group, which grew from 1.5 percent of the population to 1.7 percent.

The biggest growth in the oldster demographic, however, was in the 55-59 age group that grew from 4.8 percent of the population to 6 percent; and in the 60-64 age group that grew from 3.8 percent to 4.8 percent.

So one large group of baby boomers have already arrived in Seniorland, and another large group is right behind. And having decided to meet this extremely costly care and medical challenge by cutting taxes, our leaders in Washington will pay for the new oldsters by…doing what?

The world waits and wonders.

More from this writer at http://blog.wallstreetpoet.com/