Pls read You're Hired -- my free downloadable book at kotlikoff.net. Yes, there are actually relatively easy, but politically difficult remedies. best, Larry
I am not sure. looking at the two charts above., I see a couple of things. First, a lot of the increase among older people was in medical care. much of it comes from Medicare and Medicaid which were started in 1965. Further, a lot more people live longer and healthier lives due to more medical care being available and based on better medical science.. 1960 was just at the beginning of modern medicine.
I am 76 and fairly healthy. I take 8 medicines every day which help to control my blood pressure and prevent heart disease. 7 of them did not exist in 1960. My grandfather was close to 70 then and by then he had suffered two heart attacks.
Second, contrary to the allegation that we do not spend on the young, the consumption of educational services has also increased dramatically.
I am not arguing that everything is as good as it can be. And I am very concerned about the fiscal incontinence of the Federal Government. But, I think more people are living longer, better educated, and healthier lives. in 2023 compared to 1960.
An unacknowledged problem is the amount of corrupt, which diverts funding into private hands, from actually services. Housing, education, and medicine are all good examples of this. The United States spends more on healthcare than anyone else, but does anyone believe that most of it is being spent on providing healthcare instead of paychecks, bonuses, and dividends?
Pls read You're Hired -- my free downloadable book at kotlikoff.net. Yes, there are actually relatively easy, but politically difficult remedies. best, Larry
I am not sure. looking at the two charts above., I see a couple of things. First, a lot of the increase among older people was in medical care. much of it comes from Medicare and Medicaid which were started in 1965. Further, a lot more people live longer and healthier lives due to more medical care being available and based on better medical science.. 1960 was just at the beginning of modern medicine.
I am 76 and fairly healthy. I take 8 medicines every day which help to control my blood pressure and prevent heart disease. 7 of them did not exist in 1960. My grandfather was close to 70 then and by then he had suffered two heart attacks.
Second, contrary to the allegation that we do not spend on the young, the consumption of educational services has also increased dramatically.
I am not arguing that everything is as good as it can be. And I am very concerned about the fiscal incontinence of the Federal Government. But, I think more people are living longer, better educated, and healthier lives. in 2023 compared to 1960.
An unacknowledged problem is the amount of corrupt, which diverts funding into private hands, from actually services. Housing, education, and medicine are all good examples of this. The United States spends more on healthcare than anyone else, but does anyone believe that most of it is being spent on providing healthcare instead of paychecks, bonuses, and dividends?
Blanchard never stops to amaze me. He should question why he has such followers.
Are there any potential remedies? Like adjusting the tax incentives? Or do you think age redistribution is likely to continue unabated?