As the baby boom generation begins to reach retirement age, Ask an Expert

Economics

As the baby boom generation begins to reach retirement age and the increase in the life expectancy in the US, people will be receiving Social Security payments for a longer period of time. Thus, the government expenditures will increase with the larger and longer-lived elderly population, but tax revenues (that finance the Social Security program) will not increase since the working-age population has not changed. As a result, government deficits are predicted to become larger in coming years.

In your opinion, what should the government do to handle this situation?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91676227

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