New York Times illustration |
"Thanks to falling birthrates, longer life expectancy and the graying of the baby boomer cohort, our society is being transformed. This is a demographic change that will affect every part of society. Already, in about half the country, more people are dying than being born, even as more Americans live into their 80s, 90s and beyond. In 2020, the share of people 65 or older reached 17 percent, according to the Census Bureau. By 2034, there will be more Americans past retirement age than children.
"The challenge the country faces transcends ideology, geography and ethnic or racial category, and American leaders, regardless of their party, need to confront it with the appropriate urgency. . . . Places like Japan, with the highest proportion of people 65 or older in the world, offer a hint of what the near future might look like for America. In Japan, especially in rural areas, schools shut their doors because there are no longer enough children to fill them; births fell below 800,000 in 2022, and about 450 schools close every year. With fewer young people working, revenue for retirement programs is shrinking, and there is a chronic labor shortage. Japanese people increasingly work into their 60s, 70s and beyond, often in physically demanding but low-paid jobs such as making deliveries and cleaning offices."
A country with a significant aged population has particular needs, but American politicians and policy writers need to be faster to address the shift. The Board writes, "The strains are showing in everything from health care and housing to employment and transportation. With an average of 10,000 boomers turning 65 each day, these pressures are steadily intensifying and will continue to do so, especially if current immigration policies hold. . . . By 2053, more than 40 percent of the federal budget will go toward programs for seniors, primarily Social Security and Medicare . . . .
"A demographic shift this significant calls for a broad-based response, and the longer the challenges go unaddressed, the more formidable they become. . . . There are many pieces to this puzzle, including who will care for older people, where they will live, how our cities are designed and how businesses will adapt. Many older people in the United States say they feel invisible in a country that has long been obsessed with youth, avoiding the inevitability—and possibilities—of old age."
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