The Long Run Has Become the Short Run
Budget Implications of Demographic Change
“Failure on our part to prepare for demographic change will have
substanal adverse eects on the economic welfare of our childrenand grandchildren and on the long-run producve potenal of the
U.S. economy.”
Ben Bernanke, Chairman, Federal Reserve Bank, October 2006
Minnesota State Demographic Center
658 Cedar StreetRoom 300Saint PaulMinnesota651.201.1199www.demography.state.mn.us
This document can be made available in alternave formats, such as largeprint, Braille, or audio tape or disk upon request at TTY 1-800-627-3592 orby contacng:
Minnesota Department of Administraon
State Demography Center
Phone: 651-201-1199Fax: 651-296-3698
This report was prepared by Tom Gillaspy and Martha McMurry of the MinnesotaState Demographic Center, with contributions from Tom Stinson, State Econo-mist. Additional assistance and advice was provided by George Hoffman, MattSchoeppner, John Peloquin, Kristy Swanson, Bill Marx and Ryan Lee.
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