RALEIGH, N.C., Dec 16, 2009 (UPI via COMTEX) -- Some programs the U.S.
government says will be in deficit may actually have a surplus because people
are living healthier and longer, U.S. researchers say.
Study co-author Dr. Al Headen, associate professor of economics at North
Carolina State University, and colleagues at Duke University, Brigham Young
University and the National Council of Spinal Cord Injury Association say people
are living longer and are retaining their ability to be productive members of
society -- they are able to work, pay taxes, consume goods and go on vacation.
"But a lot of projections by the government of the future work force are not
accounting for improved health and productivity of older Americans," Headen says
in a statement. "People will be paying into government programs, such as
Medicare, for a longer time -- while simultaneously delaying the point where
they need to draw on those programs."
In 1994, the Congressional Budget Office projections of Medicare expenditures
for 2004 for people 65 and older were $361 billion, but the actual 2004
expenditure was $268 billion -- a discrepancy of 35 percent.
"Spending on healthcare productivity, biomedical research and universal
healthcare should be considered an investment that will eventually lead to
increased economic growth," Headen said.
The findings are published in the Proceedings of the National Academy of
Sciences.
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