30 Issues in 30 Days is our election year series on the important issues facing the country this election year. Today: The current state of Medicare and Social Security, and how they might change. Visit the 30 Issue home page for all the conversations.
James Galbraith, professor of government at the University of Texas at Austin, talks about his new book, Inequality and Instability: A Study of the World Economy Just Before the Great Crisis.
There are around 70 million people born between 1946 and 1964 — known widely as Baby Boomers. Around 65 million of those people are in the workforce today and of those, 28.7 million are over the age of 55. What if those positions were suddenly freed up? How many jobs would that mean for the nearly 11.5 million people under the age of 55 currently unemployed? What economic benefits are there for companies, who would get cheaper insurance premiums with a younger staff? And what kind of stress would this put on Medicare and Social Security?