“With more than 200,000 boomers exiting the labor force each month through retirement, the rule of thumb that the economy needs to add 140,000 jobs per month to keep up with population growth no longer holds. The new normal is 100,000, which is why 150,000 new jobs a month has brought the unemployment rate from 9.5 percent to 7.9 percent over the last two years.” (NY TIMES article they tried to block me from reading via Facebook article link … so Google to it. TIMES does not want readers.)
Anyhow, this article, “The Baby Boom Bump”, repeats what I have been saying for years. Republicans are distorting economic reality by living in the 1960’s …
Demographic reality: Unemployment rates will fall, for, at least, the next twenty-five years. Without immigrants – which Republicans are on record as opposing – this economy will be shorthanded. The GOP is going to get what it has aimed for … we will borrow more, have no education or healthcare, and an aging population … from whom they will withdraw Social Security … claiming poverty … and failing to acknowledge that they have, since the Reagan Administration, been the cause.
Given the stupidity of the average GOP voter, look for a GOP President in 2016, and world war soon after.