The United States has reached a new milestone: a population of more than 50 million elderly people for the first time in the history of the United States. According to the United States Census Bureau, the 2017 census states that there is one birth every eight seconds, one death every ten seconds, and one international migrant every twenty-nine seconds. America's population growth of 28% will outpace many of its economic rivals such as Brazil, China, Japan and Germany. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay The percentage of elderly people in the US population has grown from just 8% in 1950 to 13% in 2010. Globally by 2030, one eighth of the population will be elderly i.e. one billion citizens. It is estimated that Americans age sixty-five and older will grow from the current forty-six million to more than ninety-eight million by 2060. The population of the age group sixty-five and older will grow to nearly twenty-four percent of what it is today. fifteen percent. The older population is becoming increasingly racially and ethnically diverse in the United States. The percentage of older native-born non-Hispanic whites is estimated to decline 24 percent between 2014 and 2060, from 78 percent to 54 percent. The racial/ethnic shift in the population under eighteen has created a diversity gap between generations. One of the major concerns for Western governments concerns the combination of greater spending responsibilities and lower tax revenues. Another concern is the rapid increase in life expectancy in a context in which more and more people are claiming benefits with few workers, which will require already decreasing tax rates on the workforce. Worker shortages can cause wage inflation which is a general increase in the cost of goods that is preceded and results from an increase in wages. These workers potentially paying higher taxes could discourage work and hinder investment by businesses, which could lead to lower growth and productivity. Welfare system and public finance. The “2030 problem” combines the challenge of ensuring the availability of acceptable resources and an effective service system in the decades to come, when the elderly society will have doubled in size compared to today. Much of this growth will be driven by the aging Baby Boomers, who in 2030 will be between the ages of 66 and 84 and number 61 million. Even Baby Boomers, those born before 1946, will number 9 million in 2030. The United States Census Bureau underlines that the country's aging is slowed down somewhat by the immigration of young people. These individuals tend to be younger than Native Americans and, by having higher rates of labor force participation, mitigate the impact of aging on the Native population and workforce. Neither the current level of immigration nor the current birth rate is sufficient to fully offset the retirement of baby boomers. The maturing population will increase demand for workers across a wide range of sectors and occupations as retired native workers leave the workforce. The BLS projects that there will be 54.8 million job openings from 2010 to 2020, of which 21.1 million will result from economic growth, while 33.7 million will result from the need to replace workers who retire or move to different jobs. that immigrants and their children will fill even more healthcare jobs in the coming decades as retirements increase and population demand for healthcare increases).