By 2060, more than 20 percent of all Americans will be 65 or older, up from 13 percent in 2010. More than 92 million oldsters will roam the land, if roaming is within their power. People who fret about the federal budget point out that, by 2011, Social Security and Medicare were already eating up a third of it. Looming in the near future is the prospect that both programs' trust funds will vanish as the number of workers paying into the system goes down.We Boomers must get out in front of the death panels. "The grandmother hypothesis" — whatever the hell it is — is the kind of propaganda we need. And, young people, did you scoff at my use of the term "death panels"? I hope so! It means our propaganda is working. But how well will it work when more than 92 million oldsters will roam the land, if roaming is within their power. If you young people decide you're tired of funding our pensions and our health care, capacity to roam will not be enough. We'll need to run.
But are senior citizens really "greedy geezers" (a term made popular by this magazine in 1988) about to bankrupt us? The grandmother hypothesis suggests not. It suggests that we should see the coming abundance of over-65-year-olds as an opportunity, not a disaster....
December 26, 2013
"In a happy coincidence, the grandmother hypothesis comes along just as Americans enter what might be called the Age of Old Age."
"America's biggest generation, the baby-boomers, began retiring in 2011. This gerontocracy is expected to drain our wealth."