St. Louis Fed, Report:  How the Death Rate Affects the Aging of the US Population

“In 1950, the proportion of people 65 years of age and over in the US was 8.2%. By 2019, that proportion had increased to 15.8%. In 2017, the US Census projected that by 2034 the population of people 65+ will be larger than the population of people under 18.1 US Commerce Secretary Gina Raimondo commented that aging demo­graphics were going to hit the country “like a ton of bricks.”2 Vespa (2018) predicts greater demand for healthcare, in-home caregiving, and assisted living facilities, as well as problems for social security.”