The Graying Of America

Part I of Essay
Of the total federal expenditures in 1995, Social Security together with Medicare(federally founded health program aimed at helping the elderly, founded in 1965) was the largest, accounting for about 34 percent. In 2005 this figure is predicted to be as high as 39 percent. ....

Part II of Essay
.... government will have to find approximately $57 billion to meet its obligations. By 2020 the number will have grown to $232 billion. The demographic makeup of America is changing. The share of the population over the age of 65 will continue to grow well into the next century. Today, approximately 13 percent of the population of the United States is over age 65. By 2030 that percentage will increase to more than 20 percent. Even more surprising, in less than 50 years, there will be as many Americans aged 80 and older as there are now people ove ....