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The population is graying

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Recently published projections by the US Census Bureau show that the number of people over the age of 65 is set to outnumber children by the year 2035. For the first time in history, it is forecasted that there will be almost 2 million more older adults than children under the age of 18 – a trend believed to be precipitated by a decline in fertility along with aging baby boomers.

According to the Washington Post, there will be increased pressure on lawmakers to fund Medicare and Social Security, especially because older Americans vote at higher rates.

While the shrinking workforce is expected to weigh on economic growth, experts say that this could be offset by automation and the use of robots to replace workers.

In the first projections published since 2015, analysts say that even with no major changes in immigration policy, immigrants will equal natural born citizens by the year 2030. By 2040, the number of immigrants will be twice as large as natural births.

Although it is projected that the population will continue to grow, analysts say that there will be a change in the country’s diversity. The number of people classified as white is expected to shrink by 2024, dropping to less than half the population by 2045.

Similar trends are already underway in Europe.

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