Managaging The Budget Analysis

The change with the aging population has never been so high as before. As the demographics of the aging populations continues to grow society will be seing thesome growing pains. The cause for the aging population is due to the amount of baby boomer in this generation . The term baby boomers are people who were born from 1947 to 1964. These people were born doing the post-world war II baby boom. The impact of the baby boomers will be mostly felt in healthcare. With the aging population most of the population most of them will depend on medicare to cover health concerns , which will imact everyone in the united state. The demographic of the aging pouplation will also create a demand for more health care professionals. They will more
The first round of babboomers was eligible for retirement benefits social security in 2008 and will be eligible for medicare beginning of 2011. Managaging the budget efficiently should be a very important goal for law makers because later on most of the nation will be threaten. With the baby boomers becoming eligible for service such as social security, medicare and other government assistance . because of the aging population services will be cut for those who are not eligible for retirmane or medicare . government services will decrease because the federal government will face more challenges and a much higher budget. Cutting services in some regions in Illinois is going to increase the poverty rate. Regions such as the south side of Chicago over 50 percent of the population are relying on government assistance such as Medicaid,cash assistance, housing/shelters, WIC and Food assistance. With the aging population some of these services will be cut and the to be eligible for some of these service will become much more
In Illinois the aging puplation was 12.1 percent in 2000; it is projected by 2030 it will become 18 percent. By the year 2050 seniors ages 85 and up will triple by the year 2050 nationwide which will cause nursing home impact. .The number of persons 60 years of age and older in the state of Illinois is expected to increase from 2 million today to over 3.6 million by the year 2030. With the agingpopulation most of them will end up having to receive long term care. Medicaid nursing home patients will continue to grow and the people paying for these baby boomers long-term care are working citixens. With that being said long-term care liabilities will increase even more. More seniors will start incorporating into community care program, and the cost to stay in the nursing home will increase.Metlife stated in 2006 to 2007on average a 3 percent increase in nursing homw cost by the year 2020 this number will triple. the aging population will not only impact citizens it will also impact state Medicaid, prescription drug, and aging programs. The aging population will cause high cost and higher demand of longterm/Medicaid, it will increase programs the Chicago region has for the elderly and loss of revenue because of senior tax