January 30, 2014

What the Graying World Can Teach America

By Bruce Stokes, Director of Global Economic Attitudes, Pew Research Center

Special to CNN

The inexorable aging of the U.S. population has been one of Washington’s rationales for raising the retirement age, reforming health care and cutting the government deficit and debt. Continuing policy debates driven by fears of the economic consequences of a graying society are almost inevitable.

But the fiscal and societal burdens of an aging America are far from unique. Indeed, when it comes to getting older, Europe and increasingly much of Asia face a far more challenging future in which there is a mismatch between demographics and slowing economic growth. Compounding the problem in some nations is public opinion, with expectations of government often out of synch with projected economic growth and the ability of states to foot the bill for their aging populations.

In 2010, 13 percent of the U.S. population was age 65 or older. By 2050, that proportion is expected to grow to 21.4 percent, according to estimates by the United Nations.

Read more at CNN’s Global Public Square blog