Final answer:
The phenomenon where one in every five Americans will be elderly is referred to as "the graying of America." This describes the demographic trend of an increasing population over sixty-five years old due to factors like increased life expectancy and the aging baby boomer generation.
Step-by-step explanation:
The phenomenon where one in every five Americans will be elderly is also called "the graying of America". This term aptly describes the demographic shift where the population over sixty-five years old is increasing in proportion to the total population. By 2030, it is projected that one in five Americans will be over age 65. This demographic transition has significant implications for U.S. federal programs such as Social Security, Medicare, and Medicaid, as these programs will require more funds to support the growing number of elderly Americans. Various factors contribute to this phenomenon, including increased life expectancy, better healthcare, and the aging of the baby boomer generation. The demographic shift affects many aspects of society, ranging from the labor market to healthcare systems, and poses critical challenges for policy-making and social welfare.