Coincidentally, I just saw two separate job ads on the subway looking for caregivers. Maybe the next booming sector would be taking care of retired boomers.
One interesting scheme I recently came across is an assisted living home that doesn't take regular payments. Instead, they have their residents sign over their entire net worth at the event of their death, leaving nothing for their inheritors. The tradeoff is that they get to stay for as long as they live. Of course, this scheme has some obvious perverse incentives for the operators of the home.
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This pattern isn't unique to Pittsburgh, of course, and has played out broadly across the US.
From the generation that brought you Ronald Reagan, boomers will have no trouble bankrupting the youth to pay for their entitlements
And I say this as a boomer myself.
The Boomers were in their prime working years when the Silents under Reagan did the US’s biggest tax burden shift onto them, and cut their expected benefits along with it.
What are you referring to, specifically?
The age groups that Reagan won were the ones that are (predominantly composed of, because the categories don't perfectly match generation boubdaries) Silents and older. The Boomer age groups were tied (22-29 went 44 Carter, 44 Reagan, 11 Anderson) or for Carter (18-21 went 45 Carter, 44 Reagan, 11 Anderson.)
The generation(s) that brought you Reagan are, for the most part, dead.
Some states are looking at or implementing new mandatory Insurance programs nursing home care, but these are far too late for Boomers to pay into them in a meaningful way
This has not stopped Washington state, for example, from allowing Boomers to benefit from these programs without paying into them in a meaningful way.
Some nursing homes specialize in medicaid patients, which isn't much different than a government funded nursing homes IMHO.