20% of the US Population Seniors
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?