Long-Looming Age Crisis Has Arrived

That’s the title of an interesting article today by Saint Paul Pioneer Press reporter Jeremy Olson:U.S. policy leaders have fretted over the coming of a single year €” the one that will kick off the graying of the baby boomers and prompt dramatic increases in health care and long-term care costs. That year will see a 30 percent increase in the number of workers turning 62, the age of eligibility for Social Security benefits. It will also be the tipping point when aging trends cause a sharp drop in the labor force and a decline in productivity. That year? 2008. State demographer Tom Gillaspy told members of the Minnesota Senior Federation on Monday that this year has been anticipated for decades, but too little has been done to prepare for it. Unchecked, the rising costs of health care for state government eventually will stifle spending on roads, bridges, education and other public programs. Untrained, the coming generations will yield too few doctors and nurses to care for the boomers and keep the economy churning. The next five years will be critically important to the future history not just of Minnesota but of the entire United States,’ Gillaspy said during the advocacy group’s annual convention. ‘What we do now, people will look back and say, ‘Wow, these people did the right thing’ or they will look back and say ‘Wow, that’s when it all started falling apart.’ Read Jeremy’s full article here.Did you Vote? Which Presidential candidate do you think will do the most to help America ride the Age Wave: Vote Here