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Essay Archive - The Graying of America
The Graying of America
Of the total federal expenditures in 1995, Social Security together with
Medicare(federally founded health program aimed at helping the elderly, founded
in 1965) was the largest, accounting for about 34 percent. In 2005 this figure
is predicted to be as high as 39 percent. This is caused by the "graying" of
America and the increased number of elderly who will collect benefits for a
longer portion of their lives, coupled with a reduction of the number of workers
available to pay for their benefits. Increasing costs of living and higher
standards of living (as reflected in higher wages) also are consequences.
In short....
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