What is the possible increased burden on the younger population to compensate for health care cost, lost income, housing needs with a lesser population contributing to Social Security due to the longevity of the aging population?© BrainMass Inc. brainmass.com October 25, 2018, 4:43 am ad1c9bdddf
Elderly poverty has been significantly reduced since WWII as a result of the Social Security program. During the post war years there were small numbers of elderly and a large baby boomer generation. The tables are now turned with fewer young workers and a surplus of elderly people who are living longer than ever before. With fewer people paying into Social Security and more people withdrawing from it elderly poverty is once more expected to rise. As a matter of fact the decrease in elderly poverty slowed and stopped in the 1980's and has actually risen slightly since then.
Rising health care costs are another burden that must be shouldered by the younger population. Recent research has indicated that nearly 10% of American families spend over 20% of their family budget on health care costs. In many cases this is due to the fact that they are caring for elderly parents who have health care costs not completely ...
What increased burdens will new generations need to shoulder in order to meet the health care demands of a growing elderly population? Over 650 words of original text along with links to scholarly resources.
Need Help with Int'l Macro
1. At the end of 2004, the gross federal debt was approximately $7,500 billion, and it is highly likely that it will grow much larger during the coming decade. Many people are concerned that the government could go bankrupt and that the U.S. economy could face severe consequences. Under what conditions can a government go bankrupt? Is it possible for the U.S. government to go bankrupt?
2. Is the U.S. government debt a burden on future generations? Does the U.S. government eventually have to pay off its debt?
3. The Brazilian budget deficit has grown to become a large portion of GDP. Explain how it was possible for Brazil's actual budget deficit to grow at the same time that former President Fernando Henrique Cardoso was discretionarily cutting government spending and raising tax rates.
4. What are "automatic stabilizers"? What effect do they have on the economy? In other words, what do they automatically stabilize, and how do they automatically do it?
5. To answer these questions, refer to the sheet entitled Economic Information: Switzerland: 1990 - 1994
a. Was Switzerland's fiscal policy loose or tight?
6. What fiscal policy would you have recommended to the Swiss authorities if they wanted to improve Swiss economic performance? Please explain using AS/AD analysis.