Asked by Jerry Simmons on May 06, 2024
Verified
Briefly describe some of the demographic trends that are predicted to increase the government's budget deficit.
Demographic Trends
Patterns in the composition of a population over time, such as age, race, gender distribution, which can influence various aspects of societal behavior and policy.
Government's Budget Deficit
A situation where a government spends more than it earns in revenue over a specific period.
- Recognize the demographic trends affecting government budget deficits.
Verified Answer
TL
Terry LewisMay 10, 2024
Final Answer :
Social Security and Medicare payments will likely rise, in part due to medical advances and greatly increased life expectancies for the elderly. People are having fewer children, which reduces the number of people in the work force. Government expenditures on healthcare will also likely rise, in part because medical advances provide new and better but often more expensive treatment options.
Learning Objectives
- Recognize the demographic trends affecting government budget deficits.
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