Why The Falling Birth Rate Is Bad News For My 2-Year-Old Son
The U.S. birth rate just fell to the lowest point since we've been keeping track. Here's why that may be a problem for my 2-year-old son. Right now, I, my colleagues, and everybody else with a job is paying to support our parents, our grandparents, and all the other elderly people in the U.S. who currently receive Medicare and Social Security. Relatively speaking, there are still plenty of us working people, compared to the number of retirees. But the fall in the birthrate means that, by the time my son gets to be my age, there will be fewer working people for each retiree. So he'll have to pay a bigger share of my retirement costs — which he may not want to do. So maybe we should start paying more now, or agree that retirees should accept a bit less, or do both.
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Dean Baker
Overall Sentiment: 0.431692
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Phillip Longman
Overall Sentiment: -0.154174
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Country: U.S.
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Organization: Medicare
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Organization: Center for Economic and Policy Research
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Company: Twitter
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FieldTerminology: Social Security
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FieldTerminology: GDP
Overall Sentiment: -0.0405793
Relevance: 0.526374
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By the time my son gets to be my age, there will be fewer working people for each retiree. So he'll have to pay a bigger share of our retirement costs.
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