For those worried about the ability of U.S. state and local governments to cover promised pension checks, the Census Bureau announced a milestone that should add to their fears: by 2030, for the first time, senior citizens will outnumber children. The consequences are wide-ranging, from the solvency of Social Security to increased health-care costs for an aging population. The swelling ranks of retirees from public service, such as police officers and teachers, will also present a strain on state and local government retirement systems that have about $1.6 trillion less than what they need to cover the benefits workers are counting on.
Source:
Steve Buscemi: 30 Rock, The Tuxedo Begins, 16.02.2012
United States Census Bureau, Demographic Turning Points, March 2018
cnbc.com, Ashley Turner, 14.03.2018
bloomberg.com, Romy Varghese, 14.03.2018