News of Future: 20% of the US Population Seniors

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20% of the US Population Seniors

April 19, 2035 - Of the total US population of 378 million, people over 65 years of age now make up 20% for the first time. The population has been aging rapidly with a senior ratio of only 4.1% by year 1900, and 12.4% 30 years ago.

The elderly dependency ratio (EDR), the number of people above 65 compared to those of what is considered working ages, between 15 and 64, is currently 33.7%. This is up from 18.5% since year 2005, which means that for every retired person there is now two workers, compared to four workers 30 years ago. The difference in the EDR puts a great strain on Medicare costs that will most likely reach 7.5% of GDP for this year.

The number of people above the age of 80 has grown to 23.8 million, making them 6.3% of the total population compared to 3.6% in 2005. In this age group women are quite over-represented with 61.5%, compared to 50.2% in people below the age of 80.

Argument: The numbers are based on the U.S. Interim Projections by Age, Sex, Race, and Hispanic Origin from the U.S. Census Bureau.

Questions: Since seniors are less spenders the interest rates will stay low which can grow to a problem where the state has an interest in increased consumption. In what ways will the seniors be stimulated to consume in the future?

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Yes. US is an aging Nation. Viewed from that angle ,The Young and working population of India is the biggest positive factor for India and its growth in coming years.

Between 2010-2030, India will add 241 Million people in working-age population (and that means the children who are currently in our education system), Brazil will add around 18 million, while China will add a meager 10 million people during the same time.this particular Indian aspect is going to prove pivotal in making India the world leader in coming years.

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E-mail: anumakonda.jagadeesh@gmail.com

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