Old Promises and New Blood: How Immigration Reform Can Help America Prosper in the Face of Baby Boomer Retirement

Publication Date: November 2008

Publisher: Reform Institute

Author(s): Dowell Myers

Research Area: Economics; Population and demographics

Keywords: Immigration; Baby Boomers

Type: Report

Coverage: United States

Abstract:

As the economy has risen to the top of the national agenda, immigration has dropped as a voter concern. However, these two issues are not mutually exclusive and should not be treated as such. While the present economic crisis requires immediate attention and action, an even greater economic challenge, posed by the aging of our society, lies directly ahead. As we seek to recover from the current recession, the onset of the aging effect may hold back our recovery, due to a mounting fiscal deficit, workforce shortages, and weakened housing demand.

This paper from eminent demographer Dowell Myers explores how the aging of the population, epitomized by the impending retirement of the baby boom generation, will be a watershed event with severe ramifications for our economy and the standard of living of all Americans. Dr. Myers observes how immigration can mitigate the adverse effects of this monumental demographic shift and make America more resilient in the face of this colossal challenge.