Socio Economic Studies Assignment Report

The concept of Joint families to share the burden of Social security net and Medicare
During the last few years, experts in the field of Socio-economic studies came up with an
interesting finding where they stated the social security net of the USA will feel enormous
pressure and fail in delivering adequate support to the aging population of the USA. According
to them, the policies of the government are offering modest social security benefits to elderly
citizens, an increase in the age of retirement will further bring down this number. Medicare
facilities will also face a challenge because revenue options are squeezing and baby boomers of
the country are seeking a fair amount of contribution from the side of the social security net
(Roming, 2020, pp. 4-5).
It is an alarming situation for a country like the USA for two reasons; if they don’t support baby
boomers then the country might lose its demographic edge. At the same time if they don’t
support the aging population then ethically it is wrong. However, a financial threat is looming
over the economist of the country. According to a study was done by “Center for the Budget and
policy priorities” by the year 2035 the amount of sum given to an elderly person under the head
of Medicare and social security net will come down by ten percent. It also means that the modest
sum that the elderly population is receiving will go down further in the future and increase the
financial problems even further for this sector (Cubanski, 2019, pp. 7-8).
The social engineers of the USA recently observed the emergence of a new culture in the USA.
In the year 2007, the participation of prime-age women in the workforce was very high.
According to the rankings of “Organization for economic and cooperation and development,” the
USA was holding 17th place in the list of 36 industrialized nations of the world. However, in the