Posted on 07/17/2012 8:00:56 AM PDT by C19fan
Today’s youth, both here and abroad, have been screwed by their parents’ fiscal profligacy and economic mismanagement. Neil Howe, a leading generational theorist, cites the “greed, shortsightedness, and blind partisanship” of the boomers, of whom he is one, for having “brought the global economy to its knees.”
How has this generation been screwed? Let’s count the ways, starting with the economy. No generation has suffered more from the Great Recession than the young. Median net worth of people under 35, according to the U.S. Census, fell 37 percent between 2005 and 2010; those over 65 took only a 13 percent hit.
(Excerpt) Read more at thedailybeast.com ...
truth hurts.
“The Boomers only sin is working to older age.”
ORLY? What about that massive debt that you managed to create? The debt you got from your parents was around 40 percent of GDP. You’re giving us 120 percent.
Thanks boomers!
Keep preaching the truth FRiend and may God Bless you!
“The really dark side to all of these stories about one generation (Whatever that is exactly! Why do we let ourselves be defined by being lumped into groups?) is that they are preparing us for euthanasia. If you can convince the younger generations that their parents are useless old coots who screwed them out of their future, how much easier it is to convince them to pull the plug on the oldsters in order to save money.”
No. I think killing your own babies because they are inconvenient and get in the way smooths the path for euthanasia. Boomers managed to kill 1/4 of my generation. All of us, post 1972 are the survivers of the greatest holocaust ever, committed primarily by those who would have been having children back then. Folks born in ‘45 would have been 27 in 1972.
Are boomers supposed to be absolved for all the abortions they committed?
You’re willing to end social security outright?
“What a disaster this generation is.”
Indeed. We’re going to have to dismantle all this crap because the money isn’t going to be there to pay for all of it.
“Still it was the taxpayers and citizens of the Great Society generation that have put this nation in this fiscal mess”
Boomers inherited a debt of around 40 percent of GDP. Since Clinton, Clinton, Bush, Bush, Obama (5 straight terms of boomer presidencies), that’s jumped up to 120 percent.
Boomers passing the buck is no different than Obama saying that it’s all Bush’s fault.
“So, when the boomers are dead and the next generations can’t borrow because the US is trillions of dollars in debt to 3/4’s of the planet, and paychecks are being engulfed to pay for projects and bonds issued 20 years before.......the boomers are left holding the bag how, exactly?”
Who cares? Boomers got theirs already. :)
I still consider the war generation the greatest generation for the simple reason, on a personal level, they lived within their means. My grandparents still use only cash. The boomers and all the generations after simply seem to love being in debt. They just can't wait. That is why I think the US will never follow the high savings route of the Japanese. Americans could be finding their next meal at a soup kitchen but still be racking up their credit line because they can't go without the latest Iphone.
End it the fair way-calculate the total amount paid in by anyone who isn’t getting SS yet, give it the current rate of interest and write us each a check for the amount plus the interest we each paid in. I’m pretty sure that you and I, and most everyone else could invest that amount and get a much better interest rate on our own. I’d rather trust an investment that I make with my earnings, wouldn’t you?
But I’m sure most people would rather just keep giving the government money to throw away-SS isn’t protected, you know-it is in the general (slush) fund, and is raided every time daddy govt needs money-we allk know what happens to banks or investment firms who do that...
End it the fair way-calculate the total amount paid in by anyone who isn’t getting SS yet, give it the current rate of interest and write us each a check for the amount plus the interest we each paid in. I’m pretty sure that you and I, and most everyone else could invest that amount and get a much better interest rate on our own. I’d rather trust an investment that I make with my earnings, wouldn’t you?
But I’m sure most people would rather just keep giving the government money to throw away-SS isn’t protected, you know-it is in the general (slush) fund, and is raided every time daddy govt needs money-we all know what happens to banks or investment firms who do that...
“the money isn’t going to be there”
The money isn’t there now, and we need to keep saying that in everyone’s face-like that British MP, Daniel Hannan said a couple of years ago, Mr. Brown, you have spent all of our money!
50 million boomers at 250k per Boomer is
12.5 trillion dollars.
That would double the national debt, leaving non-boomers debt to GDP ratio of 250 percent, and putting the US into a death spiral.
That’s not exactly ‘fair’, is it?
End it outright - no repayment.
“The money isn’t there now, and we need to keep saying that in everyone’s face-like that British MP, Daniel Hannan said a couple of years ago, Mr. Brown, you have spent all of our money!”
We’re trying to tell Boomers that but they aren’t listening. :(
Once again, you are damning an entire group for what some individuals have done. Leftists love this. If they can get individuals to identify themselves as being part of an aggrieved group, it is a small step to persuade them to punish their supposed oppressor.
If younger generations are in debt, it is due in large part to what older generations left them with in terms of supporting a growing government. No group of people has the corner on vice or virtue. The history of the world consists of people trying to live at the expense of others.
“If younger generations are in debt, it is due in large part to what older generations left them with in terms of supporting a growing government. No group of people has the corner on vice or virtue. The history of the world consists of people trying to live at the expense of others.”
Which is why we have to take the productive steps today, not 20 years from now to try to save the Republic. If Boomers were willing to collaborate with us, we could get this done. But, they aren’t.
They are willing to do everything but cut their own entitlements.
“If younger generations are in debt, it is due in large part to what older generations left them with in terms of supporting a growing government. No group of people has the corner on vice or virtue. The history of the world consists of people trying to live at the expense of others.”
Which is why we have to take the productive steps today, not 20 years from now to try to save the Republic. If Boomers were willing to collaborate with us, we could get this done. But, they aren’t.
They are willing to do everything but cut their own entitlements.
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