The federal debt held by the public has already passed 100 percent of GDP, up from 35 percent in 2007 on the eve of the Great Recession. According to the latest March 2021 CBO long-term budget projections, which do not take into account the recently passed American Rescue Plan Act or other new spending initiatives now being debated, it will hit 202 percent of GDP by 2051, nearly double the all-time record of 106 percent set at the end of World War II. And there are good reasons to believe that this projection is optimistic. 

By Richard Jackson, Global Aging Institute As 2021 begins, America is beset by a host of urgent challenges.  At home, the nation remains deeply divided in the wake of a bitterly contested election. Abroad, authoritarianism is on the rise and liberal democracy in retreat. Meanwhile, the pandemic continues to endanger both our health and our economy.

By Richard Jackson, Global Aging Institute When it comes to America’s aging challenge, it sometimes seems as if all of the possible policy responses involve painful tradeoffs between higher taxes and lower benefits.  While such tradeoffs are unavoidable, there is one response that could greatly mitigate the need for them.  We are talking about extending work lives.