Boomers are a big part of the problem. But not all of them. And not the whole problem.
My generation - X - caused a lot of this.
The .Com bubble....the housing bubble....the hyper-spending by the Feds and many state and local governments....the out of control personal debt....that was mostly us.
Those are Congress's fault particularly Barney Frank and Christopher Dodd because they sponsored the bill that removed provisions in laws enacted after the Great Depression that where designed to limit risk to those who specifically invested in the stock market and housing lenders.
In other words if you made an investment that had lots of risk and your investment tanked, no bailout for you.
Most of the Congressional "stimulus" spending is payback to campaign donors.