Babyboomers: Our Ageing Population

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Economics ISU Baby Boomers: The Ageing Population Post World War II, during the time period of 1946 to 1964, the birth rate in the North American society increased dramatically. This generation was called the baby boomers. In the time of the baby boomers about 79.6 million babies were born just in Canada and the United States of America alone. (Haaga, Population Reference Bureau) Post World War II, the economy was a lot more stable and returning soldiers began to start families. The reason for the massive expansion in the birth rate was because of the new stable economy, and the jobs the returning men received. It was a time for prosperity and couples were able to have a family again. Having such an enormous generation can impact Canada’s economy severely. A huge generation has a negative impact on an economy because of the things the government has to do to support the growing generation. For example, creating numerous amount of jobs and homes which are going to be occupied just for a certain period of time because the upcoming generation is not as massive as the baby boomers. The ageing population is going to impact Canada’s economy because of the increase in taxes, the numerous amount of money invested in the retiring baby boomers, and it would break our economy due to America’s suffering economy. First off, the economy would suffer massively due to the increase in the tax rates. When the baby boomers begin to retire the taxes would rise so the government can support their needs. Since the baby boomers would retire at such a late age, majority of them would not be so healthy. Numerous boomers would suffer many illnesses as they are less immune to diesases such as obesity, diabetes, high cholesterol, etc. All of these illnesses would require regular doctor appointments and medication which would be applied from the government. Aiding such a large amount

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