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MS. FARRELL -- We will require different services, medical devices, all kinds of things to support an aging population.
The report noted also that declining birth rates of the industrialized world would translate into a greater burden on the younger generations to support an aging population.
What can they do to remain productive at work and also support an aging parent?
What if you have to support an aging relative?
Now think about the resources available to you if you lost your job, had to support an aging parent or needed to pay off a huge hospital bill.
Joe Andrew, national chairman of the Democratic National Committee, said that in advising the party to focus heavily on prescription drugs, he saw the issue's appeal as "cross-generational": a health care issue for the oldest voters, a financial issue for baby boomers worried about how to support an aging parent and a matter of social responsibility for young people.
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David Cole, group chief risk officer of Swiss Re, said young people in developed countries face fewer job opportunities and the need to support an ageing population: While in the emerging markets there are more jobs to be had, the workforce does not yet possess the broad based skill-sets necessary to satisfy demand.
The number of carers required to support an ageing population will continue to increase.
The outcome will say a lot about the nation's ability to deal with one of its biggest long-term problems, the huge and growing costs of supporting an aging population.
If there is any shared lesson from Europe, it is that the United States cannot afford to let the clashes over budget cutting in the short term keep it from finding some consensus on how to begin addressing the mounting long-term costs of supporting an aging population.
Are you supporting an aging parent?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com