America Is Getting Older

Throughout 2020, we were waiting for a return to normalcy in travel, but it never came because vaccines hadn’t come out yet or hadn’t been distributed yet. That’s about to change. There are now only 67,023 people in the hospital due to COVID-19. That’s about a 65,000 decline in just over 1 month. We are nearing the prior peaks last year. This time there shouldn’t be another wave because of the strong vaccination effort. At the current vaccination rate, it will take 8 months for 75% of America to be vaccinated. However, because the vaccinations started with the most vulnerable, the 7 day average of deaths has already fallen significantly.

Travel is starting to inch up. As you can see from the chart below, air travel is increasing in February. TSA checkpoints are still just 42.8% of last year’s average. As of February 11th, TSA throughput was 1.03 million. After the full reopening, travel will be above the 2019 average because people will make up for some of the flights they missed. We are within months of a pickup in traveling.

America Is Aging Rapidly

The next fiscal program after the stimulus is passed and the pandemic is over should focus on improving the birth rate in America. It’s a huge problem that’s upcoming in a couple of decades. 25% of the working-age population was above 65 in 2019. That percentage has been rising in the past few years. That’s partially because young people are delaying entering the workforce, but it’s largely because the population is getting older.

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