If Bill Cosby Goes To Jail, Hell Be One Of Many Older Americans In The Prison System

Comedian Bill Cosby is facing 30 years in prison, and when he starts his sentence he will be far from the only senior citizen there.

A jury found 80-year-old Cosby guilty Thursday of drugging and assaulting a woman 30 years younger than him in 2004, though he has been accused of doing the same to about 60 other women. The date for his sentencing has not yet been announced. His attorney said he’ll appeal the verdict.

See: When rich ‘bros’ like Martin Shkreli get sent to prison, they call these wise guys first

About 11% of the U.S. state and federal prison population (or 160,000 people) is over 55 years old, 38,000 of whom are older than 65. By 2030, that figure will rise to 33%, or more than 400,000 people age 55 and older in prison, according to the American Civil Liberties Union. The number of prisoners 55 and up has jumped 400% between 1993 and 2013, according to the Bureau of Justice Statistics.

Why? Because older prisoners, like Cosby would be, are serving longer sentences (mostly for violent offenses) and because the number of older people admitted to jails has increased, according to the bureau’s 2016 report. Sentences are usually longer for older people than other prisoners: older ones saw an average sentence length of 82 months (six years and 10 months) in 2013, compared to prisoners 18 to 39 who had an average sentence lof 69 months (five years and nine months), according to the ACLU. For inmates aged 40 to 54, it was 71 months (five years and 11 months). Admission of people 55 and older increased 82% between 2003 and 2013. The government is also instituting longer sentences and more limited parole, according to the ACLU.

Also see: A man was sentenced to prison for trying to hack Trump’s tax return

Prisons are transforming to accommodate an older inmates. Some states have installed wheelchair ramps and shower handles, while others have created assisted living centers with full-time nursing staff, according to Pew Charitable Trusts. At least 75 prisons include hospice care, too.

And when older inmates do make it out of prison later in life, they often don’t have the means to generate retirement income. About 69% of previously-incarcerated older Americans said they felt anxious about retirement savings, compared to 52% of those who didn’t serve time, according to a 2017 Associated Press-NORC Center for Public Affairs Research poll.

RECENT NEWS

US Stock Market Pulls Back, Ending Multi-Day Rally Amid Inflation Jitters

The US stock market experienced a significant pullback today, ending a multi-day rally as investors grew increasingly ji... Read more

Investor Confidence Boosted As BT's CEO Allison Kirkby Challenges Short Sellers And Raises Dividend

BT Group’s shares have surged by 17% following a series of bold announcements by CEO Allison Kirkby. Kirkby’s assert... Read more

Market Optimism As S&P500 Briefly Peaks Amid Falling Inflation

The S&P500 index saw a brief all-time high as new data revealed a drop in America's annual inflation rate to 3.4% in... Read more

Sony's Strategic Share Buyback: Impact On Stock Performance

In a bold move signaling confidence in its financial stability and future growth prospects, Sony recently announced a si... Read more

The Hidden Costs Of Investing In BDCs

Business Development Companies (BDCs) are often lauded for their attractive yields, appealing to investors seeking subst... Read more

The Case For Hedging Foreign Exchange Exposure Amidst Economic Divergence

In today's global economy, characterized by increasing economic divergence among major nations, investors face a dauntin... Read more