A Medicare Plan Distributor Reacts to the State of the Union Address

What You Need to Know

The boomers are big voting bloc.
The president promised to protect Medicare and Social Security for them.
He also wants to expand the new drug price negotiation program.

I listened to last night’s State of the Union address with a great deal of anticipation. Not because I am inclined politically, but because, as all of us know, the way the winds of politics blow directly and indirectly impacts the ability of a financial advisor to properly advise the clients.

So last night, while others may have been waiting to hear about government directions for taxes, war or education, I was waiting to hear about baby boomers.

The Baby Boomers

Baby boomers are those born between the years 1946 and 1964, and, wait for this…. An estimate done by the Pew Research Center calculates the number of people in the baby boom generation in the United States as somewhere around 71.6 million people.

I also need to confess I am a baby boomer myself, of 1955 vintage.

Considering that the United States population is hovering somewhere around 330 million, we can agree that the baby boom generation has a potentially huge impact on elections.

The State of the Union address delivered last night was aimed squarely at the 70 million plus people in the baby boom generation. It was illuminating in terms of what it did say and what it did not say.

President Biden made it clear that he intends to keep Medicare and Social Security intact.