Meanwhile Europe, which currently has a birth rate of 1.6 children per woman, is set to see a decline in population in the coming decades.
A quarter of Europe's population is already aged 60 or over, and that share is projected to reach 35 percent in 2050 then remain around that level for the rest of the century, the report said.
The problem is that the welfare state will be crushed by an aging and declining population. The US is in the same boat. In 1950 there were 16 workers for every retiree; today, it is about three; and by 2030 there will be two workers for every retiree. SS and Medicare are pay as you go programs with today's workers paying for today's retirees. These programs are unsustainable.
