The American Economy and The Future Look Bleak for Baby Boomers and Elders.

The pool of native workers available to fuel economic activity and growth is rising more slowly and, within the next decade, will start to shrink as baby boomers in their 50s and 60s retire and are not replaced by young workers entering the labor force.
The more sluggish growth in the labor force since 2000 already has prompted Federal Reserve Chairman Ben S. Bernanke and other economists to warn that the economy cannot grow as fast as in the late 1990s, when 4 percent annual growth and 300,000 new jobs a month was the norm. Average growth in today's economy has dropped to between 2.5 percent and 3 percent annually and about 150,000 new jobs a month, they estimate.
The loss of an important natural source of economic growth - the steady increase in population that has been present in the U.S. from the frontier days to its rise as an industrial power in the 20th century - is a first for the nation and presents some new issues and problems for businesses and the government, said Thomas Stinson, a Minnesota state economist.
"It is not normal for a society to age," he said. He expects the change to be "dramatic" and even "sudden" in the next four years as a sharp increase in retirements starts to impact the economy in Minnesota, where experience mirrors the nationwide trend.

The tide of aging workers and retirees is not just an American phenomenon. It is sweeping the globe and promises to be a challenge even in fast-growing economies like China in a few decades. The primary reasons the population is aging are that people have fewer children and live longer due to better health care.
The populations of Europe and Japan are getting older even more rapidly than the U.S., and those countries face more immediate problems in supporting massive retirements and maintaining economic growth. Japan's growth and population peaked in 1990 and have been mostly stagnant since then.
Harry S. Dent Jr., president of the H.S. Dent Foundation, an investment research group, thinks the U.S. is not far behind, with unsettling consequences for the financial markets.
"A major economic slowdown will occur in North America and Europe from 2010 into 2020-2024 that will be marked by a series of dramatic stock crashes" and declining rates of consumer spending, he predicted.
Although Asia and other developing areas will continue to grow rapidly and buoy the world economy for several more decades, they too will reach a peak within this century due to aging populations, he said, calling it the "greatest demographic and economic shift in modern times."
http://www.washingtontimes.com/news/2007/jul/10/economy-to-struggle-as-baby-boomers-retire/
In America, our elder population is and will suffer more and more in the coming years!
"Cost of living is UP, the economy is tanking, and will Social Security be there for your entire retirement?" Interest rates are down, your savings are earning less, the stock market is waffling, do you have enough to maintain your current lifestyle in retirement?"
MORE THAN 30% OF ALL BABY BOOMERS DO NOT HAVE SUFFICIENT CASH AND ASSETS TO RETIRE.
American people who will be retiring soon can not expect the floundering economy to protect their assets and provide enough income to cover their daily expenses without rethinking their life-styles.
Our politicians continue to fight with each other for power, greed and self-perpetuation and our elder population will suffer even more due to no action on improving and protecting Medicare and social security.
I recently read an e-book which explains how to live a more frugal lifestyle without sacrificing your entire life-style and being able to live with social security as your primary source of income.
You might want to take a look at this eBook: It could help!
http://boomerswithoutbucks.com/