Today brings new affirmation of our thesis about ‘the awful way Social Security might be ‘saved.”
As was laid out 18 months ago in The Daily Reckoning, and before that in the former Apogee Advisory: Aging, well-educated high earners are staying in the workforce longer and contributing to the system. Meanwhile, less-educated low earners are dying off before they can collect much, if anything, from the system.
Now comes word from the National Center for Health Statistics that U. S. life expectancy has fallen for the first time in more than two decades – from 78.9 years to 78.8. It’s the first drop since HIV and AIDS took their heaviest toll in 1993. And it comes after the number had plateaued the preceding three years. The steady increase in U. S. life expectancy going back to the 1970s appears to be over.
The decrease can be attributed in part to a 0.9% increase in the death rate from heart disease – also a reversal after decades of gains going back to the ’70s. The increase in obesity since the 1980s is catching up with medical progress.
This post was published at Wall Street Examiner on December 8, 2016.