Merkin wrote: Sat Apr 01, 2023 12:57 pm
Which is why immigration needs to increase to maintain the entitlement programs.
My Dad and I go back and forth on the different options on the table for maintaining programs like SS. We see what's going on in France right now, with intense demonstrations against Macron's proposal to raise the retirement age. The U.S. happens to be on better footing than both France and China...where my Dad and I's most longstanding point of disagreement stems.
My Dad is right to say China is facing a steeper pitfall with their population aging out of the workforce. Yes, China does have an SS prgram for their (ballooning) retired population. Since 2014 China's working population decreased for the first time, and has decreased every year since, which in turn is increasing their retired population.
However, where I argue that my Dad is mistaken is his belief that China will resolve the budget pitfalls of their rising retirement population the same way you would see done in the first world. You won't see an authoritarian Communist China resolve their bankrupting entitlement programs with plans to increase immigration or vote on raising the retirement age. A fatalistic, authoritarian China will simply shut down their entitlement programs and expect everybody to work until they die.
For further comparison of China to the First World:
Part of the reason China’s population ballooned to 1.4 billion is because the lifespan of a Chinese citizen DOUBLED since 1960, after the “Great Chinese Famine” (1959-1961) ended. That expectancy number will begin plateauing now that China’s overall population will begin
dropping starting this year. And China's population is expected to decline by the hundreds of millions by the end of this century.
As you can see in the graph, life expectancy in the U.S. has dropped for the first time since likely our Civil War (graph doesn’t go that far back). The first reason that comes to mind is Covid, but that’s a simplistic answer. Before Covid, life expectancy across the First World had stopped growing and in places like the UK and Russia (2nd World?), life expectancy had already started
declining.
For the rest of our lives, I expect to see a gradual decline in life expectancy in the U.S. for the following reasons all working together: Rising alcoholism, rising drug and prescription abuse, rising obesity and diabetes, rising suicides, and, especially in the Third World, rising pollution and poverty returning in full force to places like India and Pakistan (but also newly arising in the First World – see the increase of homelessness across the West Coast).
Across the First World the root of the reasons are 1) falling into addiction (alcohol, drug, prescriptions), 2) unwillingness to take care of personal health (obesity, diabetes), and 3) lack of spiritual or personal vision (suicides + addictions).