To put a finer point on it: the 65-and-older population will account for 69 percent of the nation's NET population increase during that 15-year span.
The graying of America has potentially dire implications for budget policy and politics.
While federal budget deficits have shrunk as the economy continues to recover from the worst recession since the Great Depression, the shortfalls will rise again if there aren't any changes to tax and spending laws. The baby boom generation will continue to retire, age, and consume the Social Security and Medicare dollars that eat up a big share of the federal budget.
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