lectur2-page5 - We are talking about a very large group of...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Approximately 26.5% of the U.S. population consists of individuals born between the years of 1946 and 1964. Collectively, these individuals are referred to as “Baby Boomers.” You may have heard of them. Some of your parents may be members of this demographic group. If you notice, these folks were born after World War II. Think about it. Hundreds of thousands of young men and women off at war in Europe and in the Pacific come home after the war to hundreds of thousands of young women and men. Do you think they missed each other? Presto, a bunch of youngin’s This same phenomenon occurred after the Korean War Add to this a youngin s. This same phenomenon occurred after the Korean War. Add to this, a relatively prosperous economy during this time period and you can conjecture how folks thought back then about strategic family planning. In 2008, baby boomers will range in age from 44 to 62 years old.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: We are talking about a very large group of people with a very large amount of money to spend. Most are still working and they are earning substantial incomes that provide them with significant amounts of discretionary spending. Many can purchase luxury autos, beach houses, hot tubs, vacations, landscape services, a college education for their children and grandchildren, and afford the time to play golf. All this spending is, and has been, a boon to the current economy. But, what happens when they get older and begin to retire? Social Security? Medicare? Lower incomes and thus tax revenues? Home building? There are, and will probably be more of them, and fewer of you. They will live longer due to 5 advances in medical technology. How will we sustain our future economy? Why understand economics?...
View Full Document

This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

Ask a homework question - tutors are online