While popular wisdom holds that the United States should save more now in anticipation of the aging of the baby boom generation, the optimal response to population aging from a macroeconomic perspective is not clear cut. Indeed, Cutler, Poterba, Sheiner, and Summers ("CPSS", 1990) argued that...

Health care spending has increased faster than incomes for decades, but the pace slowed materially after the passage of the Affordable Care Act (ACA). Using data from various waves of the Medicare Current Beneficiary Survey we examine what has happened to out-of-pocket health care spending by...