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Monday, November 8, 1999
A&M-Kingsville professor documents power of elderly in book
Author calls impending bankruptcy of Social Security, Medicare a fundamental problem
By Mary Lee Grant
Caller-Times
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| George Gongora/Caller-Times |
| Matthew C. Price, a political science professor at A&M-Kingsville, says in his new book, 'Justice Between Generations: The Growing Power of the Elderly in America,' that when people in their 20s reach retirement age, they won't have as much financial support as previous generations had. |
KINGSVILLE - When people now in their 20s reach retirement age, they probably won't have the financial resources that their grandparents have, said Matthew C. Price, a political science professor at Texas A&M-University-Kingsville.
He has outlined the problem in a recent book, "Justice Between Generations: The Growing Power of the Elderly in America.''
In the book, which other experts on aging have called controversial, Price contends that one of the fundamental problems at the beginning of the millennium is the impending bankruptcy of Social Security and Medicare.
"Now, 13 percent of the population is elderly,'' Price said. "But in 2050, a quarter of the population will be. We won't have the young people at that time to support the elderly, and life expectancy continues to increase. In 1900, life expectancy was 47. Today it is 75.''
But other experts on aging, such as Laura Katz Olson, a professor of government at Lehigh University and author of "The Political Economy of Aging: The State, Private Power, and Social Welfare,'' said studies like Price's are used by conservatives to back policies that are detrimental to the elderly.
"I definitely don't agree that Social Security is going bankrupt,'' Olson said. "It is funded for many years to come, and any shortfalls can be rectified by minor tinkering with the system. A lot of fear has been put into people from the far right, so they can dismantle social security.''
Providing for the aged
But Price says that as the Baby Boom generation ages and no comparable group grows up to take their place, a very real problem will develop. He said that by 2030, there will be two workers for every retired person while now there are four.
"Society now pays for what the elderly citizen alone would be unable to afford,'' he said. "Today, the elderly have the lowest rates of poverty and children have the highest.''
He said dismantling Social Security is not something that is on the agenda of right-wingers.
"Both sides are terrified to touch it politically,'' Price said. "They make cuts everywhere else, but not in Social Security. Everyone is afraid to make difficult decisions.
"Being old in America has meant different things at different times,'' Price said. "Bu today, it means wealth and power. The shift reflects one of the most dramatic demographic transitions in history."
He said options to provide for the aging population include only allowing the needy to receive social security, taxing the young at greater rates and upping the retirement age.
"The problem is, none of these options is popular,'' he said. "Many rich people receive Social Security and they don't want to give it up. A retirement age of 65 made sense when people weren't living as long. But I, for one, don't want to retire later. But we can't just ignore the problem.''
Appearance trend
Price said that a television advertisement says, "It is a great time to be silver.''
"It is indeed a great time to be silver,'' he said. "But what about those who won't be silver for more than 30 years? Or 50 more? Will the future still hold the 'golden years' for them that it did for their parents? Do their parents care?''
But Olson said Price's thinking is part of a national trend to make the elderly appear better off than they are.
"There is a real concerted effort to change the view of the elderly from that of being the worthy poor to being greedy old geezers that are doing better than the rest of us,'' she said. "Luckily, the elderly are politically strong, and both Democrats and Republicans speak out against tinkering with the Social Security system. They vote disproportionately to their numbers, and they have time on their hands so they can lobby and do a lot of political work.''
Documenting elderly power
Price said he isn't trying to oppose the political power of the elderly, only simply to document the way their power has grown in the past 50 years and to urge people to examine solutions to a trained Social Security system.
"I talk to my students, and they don't expect Social Security to be there when they grow old,'' Price said. "But they don't vote, and they aren't saving money. Something needs to be done soon or the nation will be in serious trouble. In this country with our hyperindividualism by the time we deal with it, too many people will be getting old at the same time.''
Staff Writer Mary Lee Grant can be reached at 886-3752 or by e-mail at grantm@caller.com
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