Question

What will result from an increased life expectancy and improved health care?

Answer 1

Wouldn't the economy improve as well since there are more consumers and workers are able to continue working and producing products??

Answer 2

Yes, but we'll also have more retirees drawing social security.

Answer 3

So would that still mean the economy would improve since the retirement pays can be a sort of incentive to draw in more people into that town.

Answer 4

Retirees with a lot more money than just their social security checks are good for the economy. However, many retirees live on little more than their social security checks -- which probably average somewhere around $1,300 a month. Some of them need government subsidized housing to make ends meet.

Also -- some people believe that the social security fund will run out in a few years. However, as long as workers with good wages pay into this fund, it should be self-sustaining.

As a retiree, I live comfortably on a teacher's pension plus social security. But most younger people don't have pensions today.