With the increase in the number of baby boomers reaching retirement age and holding strong political...
Homework Answers
Baby boomers can be identified as people born between the year 1940 to 1960. The baby boomers population is ageing and are reaching the retiring age very fast in US.
This will affect the American economy and market in a very huge manner.
The federal and state government will need to mske policies and strategies to deal with a large ageing population of baby boomers.
Economic issue that need to be addressed include :
1. Finance and Insurance : baby boomers are responsible for their own expenses, savings, medical bills and income. Baby boomers will buy out plans and policies for health issues. The government needs to ensure that insurance companies are providing them with better plans that are useful and cost effective. These plans should not be disproportionately expensive and burn a hole in senior citizens pockets.
2. Elderly care : with increasing aged population the medical services will be very much in demand. Need for Elderly care setups will also increase. The increasing population of aged people will also provide huge market place for medical care products and equipments. The government needs to be prepared to meet such demands.
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With the increase in the number of baby boomers reaching retirement
age and holding strong political...
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