What does the "Aging of America" refer to in the context of Social Security?

The term "Aging of America" specifically highlights the demographic shift in the United States characterized by an increasing number of retirees compared to the working-age population. This trend is significant because it directly impacts the Social Security system, which relies on a larger number of workers contributing to support the benefits paid to retirees. As the population ages and life expectancy increases, there are more individuals drawing benefits from Social Security while fewer workers are available to contribute to the system through payroll taxes. This imbalance raises concerns about the long-term sustainability of Social Security funding and the adequacy of benefits for retirees. Understanding this demographic shift is crucial for comprehending the challenges facing Social Security in the coming years.