“Aging population to hit U.S. economy like a ‘ton of bricks’ -U.S. commerce secretary”

“Aging population to hit U.S. economy like a ‘ton of bricks’ -U.S. commerce secretary,” by Andrea Shalal, Reuter’s

Quote:

“President Joe Biden does not yet have enough support from fellow Democrats to secure $400 billion in spending for at-home care for the elderly and disabled that the economy desperately needs, Commerce Secretary Gina Raimondo told Reuters on Monday. Raimondo, who is paying for round-the-clock care for her own 90-year-old mother, said America’s aging demographics were going to hit the country ‘like a ton of bricks’ without increased federal aid, and warned the current situation was ‘untenable.’”

 

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

How ironic. It was federal aid, mostly through Medicaid, that created institutional bias, impeded a private home care market, put the public to sleep about LTC planning and largely caused the problems that Raimondo and others want to fix by doing more of what caused them in the first place.