From fuel to everyday goods, prices are rising, and inflation has a large chunk of the population in tears. From transportation to healthcare and education, almost everything is difficult to afford in the present world.\n\n\n\n
One of the reasons for the rising inflation in the country is the current aging population of the United States. Now, this might be a little difficult to digest at first, but let’s get to the explanation:\n\n\n\n
Yes, older people are retiring and are no longer a part of our workforce. As such, there is a lack of individuals capable or available of taking on the work these retirees were doing previously.\n\n\n\n
Experienced and renowned economists have cited the gaps in the supply chain as one of the biggest reasons for inflation. The pandemic also contributed to this massive boomer dropout.\n\n\n\n
As soon as the world went into a state of a health emergency, many older people took out all their pending finances and decided to retire. This trend gave a massive blow to the workforce now that time is returning back to normal. Since the pandemic already took an economic toll on the country, this decrease in the workforce only amplifies the problem.\n\n\n\n
The older generation has pensions to their name and demands healthcare funding through insurance or otherwise. Much of the government’s funding goes into creating pensions and healthcare budgets for senior citizens, making the fiscal gap even larger when combined with the gaps in the labor force we currently have. Inflation is therefore used to cover the debts accumulated due to this funding as well.\n\n\n\n
Other than that, many of the older working population that has not retired tend to earn much more than their work. Whereas for younger people, the money they earn is proportional to the amount of work they put in. Therefore, their lack of productivity also further enlarges the gaps in the government’s finances, which are then covered up with the help of inflation.\n\n\n\n
Bringing kids into our world today is a massive concern among millennials and upcoming Gen Z-ers. According to the US Census data, the population of the US grew at its slowest rate ever in 2020 since its founding.\n\n\n\n
The growth of the population is slowing down, and there are far more unproductive people in the geriatric population than there are productive people in the younger population. Therefore, there are just not enough people filling the gaps left by the older generations in the workforce.\n\n\n\n
The rising senior population of the world is just one of the contributors to inflation. There is also no certainty that an increase in productivity or an increase in young workers will be able to help to ease the situation. So far, we only have the facts, and we can only hope to find possible solutions to the problem.\n","protected":false},"excerpt":{"rendered":"
From fuel to everyday goods, prices are rising, and inflation has a large chunk of the population in tears. From transportation to healthcare and education, almost everything is difficult to afford in the present world. One of the reasons for the rising inflation in the country is the current aging population of the United States. […]\n","protected":false},"author":1,"featured_media":67,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/posts\/66"}],"collection":[{"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/comments?post=66"}],"version-history":[{"count":0,"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/posts\/66\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/media\/67"}],"wp:attachment":[{"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/media?parent=66"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/categories?post=66"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.707lender.co\/wp-json\/wp\/v2\/tags?post=66"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}