Summary
Table of Contents
The snapshot of older America has many faces. For some, it looks better than ever before, largely because their quality of life—the most important gauge—seems to be improving. But without Social Security, Medicare, and Medicaid the picture would change dramatically for the worse, not only for the poor but also for the majority of Americans. Strengthening and guaranteeing the future of Social Security and reining in the rising costs of health care are fundamental to improving the lives of older people, even as individuals are likely to be playing a greater role in ensuring their own financial security.
The challenges facing older people and our society as a whole are complex but, contrary to conventional views, they are not driven primarily by an aging population and greater longevity. The main drivers of rising health care costs are not unique to Medicare and Medicaid. And part of the solution is already being provided by older people themselves. As noted earlier, a smaller percentage are entering nursing homes, more are continuing to save into their retirement years, and more continue to be working taxpayers after they reach traditional retirement age. To see older Americans merely as passengers and not part of the crew is counter-productive to our understanding of aging in America today—and in the future.