It's Not Just Social Security
It is a paradox whose implications perhaps only an economist can fully appreciate: Older Americans are leading ever longer and healthier lives, and costs of many treatments for illness are falling. Yet health-care outlays for the elderly continue to rise far faster than economic growth--at a pace that promises over the next few decades to eat into the living standards of many seniors and to sharpen tensions between retirees and younger workers, whose taxes help cover their medical bills.
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