Thursday, October 29, 2009

Changing Demographics/An Aging Population

I love this animated chart by Calculated Risk which steps through US population distribution charts for every five years from 1950 to 2050.  It illustrates clearly why Social Security and Medicare are continually in trouble.  It also shows the wisdom of Harvard Economics Professor Greg Mankiw's comment on how much wiser it would have been to establish these programs based on the youngest 90% supporting the oldest 10% of the population rather than setting age 65 as an arbitrary separation point.

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