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America’s Future Doom and Gloom or Overblown?

By JLP | March 14, 2014

I have been (slowly) working my way through a book titled “Changing Texas – Implications of Addressing or Ignoring the Texas Challenge.” It’s a pretty dry read.

I came across this part that I wanted to share with you [brackets] mine:

1. The U.S. workforce is becoming more racially and ethnically diverse;

2. The racial and ethnic groups that are less well educated (e.g., Hispanics) are the fastest growing due to higher rates of natural increase and [illegal?] immigration;

3. The increasing rate of retirement of “baby boomers”–the most highly educated generation in United States history–is expected to lead to a drop in the average level of education of the U.S. workforce now and for the next two decades;

4. If these current population trends continue and states do not improve the education levels and graduation rates from high school and college for all racial and ethnic groups, the knowledge and skill levels of the U.S. workforce will decline;

5. If the knowledge and skill levels of the workforce decline, occupational achievement will be lower;

6. If occupational achievement declines, the income of the U.S. residents will decline;

7. If the levels of knowledge and skills of the U.S. workforce decline, more jobs will be exported off-shore;

8. As jobs are exported off-shore and U.S. residents’ incomes decline, the taxes paid by U.S. residents will decline; and

9. As taxes decline, revenue for state and federal support of state and federal of state and federal services will decline, including support for education.

This chain of interrelationships is dependent on the validity of three key demographic and socioeconomic trends:

1. The rate of increase in minority populations with reduced socioeconomic resource bases;

2. The relationship between the demographic characteristics of populations and the education level of the population; and

3. The relationships between education and income (both personal and household) and between education and poverty and other types of socioeconomic change.

Will jobs be exported or will people from other countries come to live and work in the U.S.? I have also read that basby boomers will most likely work longer because so many of them haven’t saved enough for retirement.

Either way, I do not like the sound of a less education society. I cannot see this as being a good thing.

Topics: Economics | 2 Comments »


2 Responses to “America’s Future Doom and Gloom or Overblown?”

  1. K D Says:
    March 25th, 2014 at 11:14 am

    And that doesn’t even take into account the many tasks being performed by technology that once were done by human beings. Computers are replacing many people in the legal field, for example.

    So what is the solution?

    Thank you for the depressing thoughts, it is better to be informed than ignorant.

  2. Jack Says:
    March 26th, 2014 at 4:32 pm

    Here’s another idea — stop subsidizing laziness and stupidity while punishing ambition and intellect. When you subsidize something, you get more of it, and when you tax something, you get less of it. So why are we subsidizing stupidity and laziness?

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