Economist Mike Walden: The Generational Clash

Teachers in many states, including North Carolina, are arguing for higher pay.  At the same time, states like North Carolina are evaluating ways to help households with their medical care costs.  Is there a connection between the two?

  1. there is – a fight between young and old generations over public dollars
  2. elderly share of population expanding rapidly 13% to 23% – drive medical care costs – state level helps through Medicaid – state $ to this rising
  3. Education is largest state expenditure – so whenever we have a growing expenditure, money to education will be under stress
  4. Clash will only worsen as elderly share rises and education becomes both more important and expensive
  5. If we can bring technology and efficiencies to both – best solution