THE IMPACT OF FAMILY STATUS ON INCOME SECURITY AND HEALTH CARE IN OLD AGE: A COMPARISON OF WESTERN NATIONS

Welfare states are sets of rules and policies that redistribute resources across social classes and across generations. In nearly all western nations, social spending on the aged has surpassed spending on all other age groups combined. In 1992 alone, spending in the U.S. on Social Security topped $250 billion and on Medicare $130 billion.