Deficit hawks fret that the government's three main entitlement programmes Social Security (pensions), Medicare (health care for the elderly) and Medicaid (health care for the poor and residential care for old people who cannot afford it) will eventually bankrupt America.
At economic growth rates that are normal for the U.S. (above 3.5% per year), we can afford Medicare and the portion of Medicaid that pays for nursing home care for people that are too old to work.
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He added, "Let us be aware of one another, care for life, nature, children and old people, " before concluding by asking those present to pray for him.
It operates about 750 care homes and provides homes for about 31, 000 old people.
Ministers are looking at introducing a cap on the amount for which people are liable when funding their care in old age.
Help the Aged has said that vulnerable old people are struggling to pay for care at home and those needing residential care are often forced to sell their homes to pay the bills.
Today there are approximately 5.1 people 16-64 years old to provide care for someone 65 and over, AND to work to pay the taxes that support public programs for the aging.
In 2050, or 38 years from now, there will only be 2.9 people ages 16-64 years old to provide unpaid care for every person 65 and over, AND to work to pay taxes to support public programs for the aging.
Their relationship illustrates another truth about Japan's aging society - the people who care for the very elderly are, by and large, old themselves.
He also recommends that single people, who may not have family who could care for them in old age, to seriously consider long-term care insurance as well.
Still others argue that people ought to have children so there will be someone to care for them in their old age.
America's leaders in caring for the very elderly are the Veterans Health Administration (responsible for about 24m old soldiers) and giant health-care providers like Kaiser Permanente, with nearly 9m people on its books.
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