Baby Boomers Hit Retirement Age

By Courtney Costello- Talk Radio News Service

Volunteers of America hosted a discussion today on the baby boomer generation’s affect on the future of health care and Social Security.

America is at a turning point, where the oldest baby boomers will be 65 in the next two years. By 2030 there will be an estimated 71 million seniors in comparison to the current 37 million seniors, said Donna Brazile, Democratic political strategist and moderator at the discussion.

Baby Boomers were born between the years 1946 to 1964 and it is estimated that there were 77 million babies born within these years.
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Said Brazile, “We have to re-think the way that we deliver care for our nation’s older Americans in the future.”

Tom Daschle, former Senate Majority Leader, said, “Clearly cost is an issue that we have to address…we also need to bring everyone under the system resulting in coverage for all… many Americans are underinsured [and] 48% of the people who have insurance don’t have the care they need today.”

Today, one of the biggest health concerns for seniors in this country is Alzheimer’s, and with more research, more positive outcomes can be expected.

“If you could imagine a world without Alzheimer’s by 2030, you have changed for probably half the baby boomers the trajectory of their life, and you have changed for their children a great deal of the trajectory of their lives,” said former House Speaker Newt Gingrich.

On the issue of the future of Social Security, author and anthropologist Mary Catherine Bateson said, “trust in the system is urgent to reassure people that social security will be there.”

“The earlier we find a way to migrate towards some kind of compound [social security] interest model, where you know what you have invested, and you get back the compound interest effect for 50-55 years of work…remember people will work longer in the next generation, not shorter.” said Gingrich.

85 % of Americans expect long term care to be a part of health care reform… It requires Presidential leadership, said the panel.