As the U.S. government continues to grapple with the issue of the budget deficit, the year we need to worry about is 2022, Goldman Sach’s top investment strategist Abby Joseph Cohen said during a lecture at the American Museum of Finance.
That’s a precise date. Here’s how she got it.
The year 1957 was the peak year during the baby boom with 4.3 million births in the U.S. Fast forward 65 years you get 2022.
That year will be important because of most long term debt in our budget deficit is related to the medicare situation, she explains.
Age 65 is when people become eligible for Medicare, the government’s health insurance program.
After the lecture, we asked Cohen about what she meant by the year 2022.
“It’s more of a signaling year –2022,” she told us. “I meant it more in a tongue-in-cheek way.”
Well, that’s reassuring.
She added: “The situation becomes more concerning the longer you wait.”
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