{"id":277350,"date":"2010-02-04T11:37:00","date_gmt":"2010-02-04T16:37:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:391367"},"modified":"2010-02-04T11:37:00","modified_gmt":"2010-02-04T16:37:00","slug":"boomer-effect-could-put-pressure-on-deficit","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/277350","title":{"rendered":"Boomer effect could put pressure on deficit"},"content":{"rendered":"<p>For years, policymakers have been warning that things will be different when boomers start retiring in large numbers. You\u2019ve probably heard the phrase so often that it\u2019s lost all impact. But guess what? It\u2019s no longer a matter of \u201cwhen.\u201d It\u2019s a matter of now that the boomers are retiring in large numbers.<\/p>\n<p>Stephen Gordon, a professor of economics at Laval, has the numbers (as well as a scary chart) on <a href=\"http:\/\/worthwhile.typepad.com\/worthwhile_canadian_initi\/2010\/02\/demographic-change-isnt-a-longterm-problem-any-more.html\" >Worthwhile Canadian Initiative<\/a>, the excellent blog on Canadian economics which he co-authors. His post shows that the working-age population as a percentage of the total population is beginning a sharp decline. Since 2005, the data have been at the extreme bad end of the 13 scenarios imagined by Statistics Canada.<\/p>\n<p>Gordon figures the decline in the size of the labor force is going to cut per-capita GDP growth rates by about 0.4% a year. While Gordon doesn\u2019t go into all the ramifications, it seems safe to assume that an aging population and slower economic growth will put pressure on the government\u2019s deficit projections\u2014not to mention Canada\u2019s booming real estate market.<\/p>\n<p><i>Freelance business journalist Ian McGugan blogs for the Financial Post.<\/i>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/np\/aggbug.aspx?PostID=391367\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For years, policymakers have been warning that things will be different when boomers start retiring in large numbers. You\u2019ve probably heard the phrase so often that it\u2019s lost all impact. But guess what? It\u2019s no longer a matter of \u201cwhen.\u201d It\u2019s a matter of now that the boomers are retiring in large numbers. Stephen Gordon, [&hellip;]<\/p>\n","protected":false},"author":4060,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-277350","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/277350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4060"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=277350"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/277350\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=277350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=277350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=277350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}