Report: Aging Calif. Population To Rely More On Taxpayer-Funded Benefits
LOS ANGELES (CBS) — The Golden State is getting a lot grayer.
KNX 1070’s Brian Ping reports a new study suggests the aging face of California’s population could have major economic ramifications in the future.
Researchers at the University of Southern California Sol Price School of Public Policy found there are currently about 22 seniors for every 100 people of working age in 2012 — a ratio set to increase to 36 to 100 less than two decades from now.
Economists warn this trend could put even more pressure on the state’s economic engine, as more Baby Boomers become dependent on entitlements and other taxpayer-funded benefits.
The USC study (PDF) also projects the ratio of children will fall over that time period from 25 percent down to about 20 percent, even as the state’s population grows at a much slower rate than anticipated just a few years ago.
According to the latest census data, the population level previously expected for 2020 won’t be reached until 2028 while the 50 million mark previously anticipated for 2032 won’t be reached until 2046.