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By 2050, the US will be very different than it is today. Adults aged 65 and over will outnumber children under the age of 18, and our population will be much more racially and ethnically diverse, the young much more so than the old. With those changing demographics as a backdrop, the US 2050 project examines the socioeconomic developments and fiscal choices we make today that will determine standards of living decades from now.
8 million people — roughly the population of Massachusetts — have student debt greater than $50,000.
The Administration uses rosy economic assumptions.
The aging of the baby boom generation will boost the number of Americans age 65 and older.
The elderly population is growing rapidly and living longer.
The homeownership rate for young adult households has declined
Growth over the next few years is expected to slow as the recent fiscal stimulus wanes.
Since early 2010, total student loan debt has consistently outpaced other non-mortgage household debt.
Low-income seniors rely on Social Security benefits for a major share of their retirement income.