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DEMOGRAPHIC CHANGE BEARS DIRECTLY ON THE FORMULATION OF SOCIAL POLICY BECAUSE IT DETERMINES WHOSE WEALTH OR INCOME IS REDISTRIBUTED TO WHOM. THIS ARTICLE CONSIDERS HOW CURRENT AND EMERGING DEMOGRAPHIC CHANGES ARE AFFECTING THE REDISTRIBUTION OF WEALTH ACROSS GENERATIONS, ACROSS INCOME GROUPS, AND ACROSS GEOGRAPHIC REGIONS.

Demographic trends in the United States foreshadow major economic and socialchanges. Four major implications emerge: (1) The United States hasexperienced declining birth rates and a maturing age distribution. As the number of older adults increases and the needs of those adults find political expression, national budgetary priorities will likely focus onsuch needs, straining education budgets