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Baby boomers augur old age, new needs

In little more than five years, the oldest members of the baby boom generation will turn 65, causing alarms in some quarters about a retirement tsunami that will challenge state policy planners severely. But many experts believe the impact of this demographic shift on budgets and services won’t be as negative as doomsayers claim.

“It’s not going to [cause] a revolution,” says Gregory Spencer of the U.S. Census Bureau. “We have a society where you can react and make changes. Legislators do react and do take care of their constituents.”

Florida is a case in point. Home to a large and growing retiree population, the Sunshine State established a Cabinet-level department of aging in 1992 and has long been a bellwether for state aging policy. Its economy has benefited from the in-migration of older people, and state officials expect a continued boost to the local economy as the boomers begin to retire.

By Christine Vestal, Stateline.org Staff Writer

Full Story: http://www.stateline.org/live/ViewPage.action?siteNodeId=136&languageId=1&contentId=58924

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