“We haven’t prepared for the aging monster”

“We haven’t prepared for the aging monster,” by Robert J. Samuelson, Washington Post

“No one can say we weren’t warned. For years, scholars of all shapes and sizes — demographers, economists, political scientists — have cautioned that the populations of most advanced countries are gradually getting older, with dramatic consequences for economics and politics. But we haven’t taken heed by preparing for an unavoidable future. . . . The implication: Unless retirement ages are raised sharply or benefits are cut deeply, more and more of the income of the working-age population will be siphoned off through higher taxes or cuts in other government spending to support retirees. . . . ‘Few reforms are as contested as raising the retirement age,” says the OECD report (‘Pensions at a Glance 2017’). ‘Why is it so unpopular to work longer even among people with longer life expectancy and in good health?’ Good question. The answer illuminates a dilemma of democracy: Giving people what they want in the present may damage our collective future.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Bob Samuelson, one of my favorite columnists on aging issues, has it right this time again.

We haven’t prepared for the aging monster

#aging
#goldencareagent