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Why the daunting economics of elder care are about to get much worse

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My sister Carol loves movies, but she hasn't been out to see one in years. When she tries to watch one at home, she's frequently interrupted. She shrugs this off, saying "Who needs to see movies when you're living one?"

You see, my sister is living the plot from the movie "Groundhog Day." She takes care of our mother, who suffers from dementia. Our mom asks the same questions over and over and only wants to watch a handful of classic TV shows, like "The Golden Girls" reruns. For this my sister earns nothing.

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I marvel at how hard my sister works and how much she contributes to our mother's quality of life and yet how little our society recognizes the scope of what family caregivers like her are contributing. As an economist, I also see in her predicament a microcosm of a much bigger problem. Just as our family can't expect my sister to keep this up indefinitely, nor can our society count on unpaid caregivers to perpetually tend to the growing needs of the nation's elderly.


 Source :- cnbc
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