As 2008 winds down not everyone is looking forward to the new year. According to state Demographer Tom Gillaspy, historians could look back at 2008 as the beginning to an end of Minnesota's prosperous workforce.
The state demographer says we may look back at 2008 as the aging tipping point in Minnesota when the work force started to dip and productivity declined. ... [T]his year will see a 30 percent increase in the number of workers in the state turning 62, and becoming eligible for Social Security benefits. ...[T]he number turning 62 will continue to increase each year for about 12 to 13 years and remain at a very high level for another 5 to 6 years after that.
We here at City Pages love our elders, but the consequences of the takeover of the bald and gray is concerning.
If the status quo remains spending on infrastructure, education and other public programs we will be stifled to pay for the rising cost of health care, Gillaspy told the Minnesota Senior Federation on Monday. Although experts have anticipated this for some time, too little has been done in preparation, he said.