by Rob Schwarzwalder
September 28, 2011
The cost for businesses to buy health coverage for workers rose the most this year since 2005 and may reach $32,175 for a family in 2021, according to a survey of private and public employers. So reports Bloomberg News.
This is not news any family wants to read. The last thing our recession-bound country needs are rising health care costs, particularly when we know these costs will be augmented dramatically should the Obama health care plan go into effect.
Buried within the Bloomberg article is a story that is underreported but finally seeping-out into the mainstream press: Contributing to the rise in premiums are … fewer young and healthy people in the insurance pool. This assertion is being made by the respected insurance association president Karen Ignagni, but it is verified by cold data. The Federal Bureau of Labor Statistics projects the following:
… by the end of the 2004 to 2014 period, most of the baby boomers will have turned fifty-five. Consequently, the age fifty-five and older segment of the labor force is expected to grow most rapidly, increasing by 11.3 million, or 49.1 percent. Because of the aging of the American population, this segment of the labor force will increase at almost five times the rate of the overall labor force (10 percent). The numbers of those twenty-five to fifty-four years of age in the labor force will grow by only 3.4 percent, a significantly lower growth than in the previous decade (8.8 percent). The growth rate of the youth labor force, workers between the ages of sixteen and twenty-four, will actually decrease between 2004 and 2014 by 0.5 percent.
What does this blizzard of mathematical factoids mean? Simply that we have a shrinking number of people entering the laborforce, one that cannot sustain our so-called entitlement programs (Social Security, Medicare, Medicaid) and that is too small to infuse the insurance pool with enough youth and health to keep it fiscally viable.
My colleagues Pat Fagan, Henry Potrykus and I have explained this in detail in Our Fiscal Crisis: We Cannot Tax, Spend, and Borrow Enough to Substitute for Marriage. We argue that our current economic slowdown, coupled with the increased numbers of dependent citizens, makes closing the deficit impossible for President Obama or anyone else who uses the present welfare state as the economic model to be sustained. It cannot be. This reality arises from two facts: 1) We have proportionately fewer children … (and) up to 20 percent of these children are unequipped to compete in the modern economy because of a lack of essential skills formed within the intact married family.
Whats the bottom line? Husbands and wives need to have more children and truly parent those children if our economy is going to thrive. However substantial our technology-driven productivity gains, they will not compensate for a steadily declining supply of capable, teachable young men and women.
According to the U.S. Census Bureau, the rate of population growth, referred to as the average annual percent change, is projected to decrease during the next six decades by about 50 percent, from 1.10 between 1990 and 1995 to 0.54 between 2040 and 2050. The decrease in the rate of growth is predominantly due to the aging of the population and, consequently, a dramatic increase in the number of deaths. In other words, we will have a larger population, but the rate of growth will slow to the point that existing citizens will live longer, not because of the size of our families.
For more on the crisis of Americas population and how it is grounded in the erosion of the family unit, visit the Marriage and Religion Research Institute at http://www.marri.frc.org/. Families are more critical to our nations economy, more than education or technology. As families fail, so fails our country.