A Moving Federal Chart that Illuminates the Future of Social Security and Medicare
Aug. 21, 2009
The Census Bureau has created a moving chart that tells the story of the end of retirement better than most charts I have seen. I cannot extract it here. You must click through to view it.
It moves too fast. You can stop it by right-clicking the screen. Move the cursor to the far right of your screen and right click. Look at the chart. To start it again, left click.
Here is what to watch for. At the top of the screen is a year. It moves from 1950 to 2050.
As the dates advance, keep your eyes on the top of the age groups: 85 and older. The age groups immediately under 85+ are also worth watching.
The width of all the age groups approaches equality as the years advance. This means that those in the working age population will be required to bear a greater percentage tax burden in order to fund those at the top.
This chart lets you see the change in half-decade segments.
Watch what happens after 2010.
Consider also the Medicare costs for people over age 65.
Here is a table prepared by the Department of Health and Human Services. Look at the annual health care expenditures by age group (1999 prices: add 13% as of 2009).
To view the moving chart, click here.