HOW TO MANAGE The Age of Decline.

The Age of Decline will pose a particularly difficult problem for countries like the United States that rely on younger workers to support retirees. The latest Census figures project that within the next seven years, net migration into the United States will exceed the country’s natural population growth, making us, for the first time in almost 150 years, dependent on immigration for our population growth. Even then, the Census projects that the US population growth rate will fall (permanently) below one-half of one-percent within the decade.

For decades we’ve known the implications for Social Security. In 1960, there were more than five workers paying into the system for each Social Security recipient drawing out. Today, it’s fewer than three. And that number is expected to fall to two within ten years. In short, we need today’s average worker to contribute to Social Security two and a half times what the average worker of three generations ago contributed.

Changing demographics are not only placing a greater burden on workers, but also making it less and less possible to institute needed changes.

The late, great Ben Wattenberg was warning about just this scenario 40 years ago or longer, for anyone who cared to listen.

No one in Washington cared — or dared? — to listen.