Minn.'s aging population poses budget challenges
ST. PAUL, Minn. (AP) — Minnesota is headed toward a significant milestone in which more of its residents are senior citizens than school-aged.
State Demographer Susan Brower told a panel of top legislators on Monday that Minnesota is on course to reach that point in 2020. It represents the point when those older than 65 years are a bigger share of the state population than those between 5 and 17 years old.
The demographic trends are important because they suggest where future budget pressures lie. Medical and long-term care costs the state subsidizes are already rising fast, crowding out available money for other things. And more retirees mean fewer income tax dollars will be coming in.
Copyright 2013 The Associated Press.