The Baby-Boomers' Economy
From the moment they entered the workforce in the 1960s, baby-boomers began to shape America’s economy and politics. They will do the same as they leave.
Retiring boomers will squeeze the economy from two directions. The number of people enrolled in Medicare will grow from 47m in 2010 to 80m in two decades’ time. Enrolment in Social Security will grow from 44m to 73m. The cost of the two programmes will grow from 8.4% of GDP in 2010 to 11.2% by 2030. Meanwhile, as boomers retire, the workforce will grow more slowly, as will the taxes to finance their benefits. The pensioner-worker imbalance and health-care inflation, which is driving up the bill for Medicare and Medicaid, the federal health benefit for the poor, will send the budget deficit into the stratosphere.
- The EAST reactor was able to heat hydrogen to temperatures exceeding 100 million degrees Celsius.
- Nuclear fusion could someday provide the planet with a virtually limitless supply of clean energy.
- During the Vietnam War, Robert McNamara began a program called Project 100,000.
- Women and nonwhite candidates made record gains in the 2018 midterms.
- In total, almost half of the newly elected Congressional representatives are not white men.
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