"On our way!"
There is only one root to blame for the current economy - CREDIT. Credit has the government spending money it does not have. Credit has launched the housing bubble through the Community Reinvestment Act selling mortgages to people who can’t afford them. And likewise, a large majority of Americans are spending money they dont have - I know, I was one of them.
It was not till I took Dave Ramsey’s Financial Peace training (currently on week 4) that I realized how the nation’s views of credit have changed so radically since the 1950’s.
Well I may have been contributing to the problem before but no longer. I cut up the card and closed the account last week. I still have a lot of debt to pay back and I will do it. It may be a tad uncomfortable beween now and then, but it will be acomplished and I WILL live debt free from now on.
“Boomers will be the first generation of retirees to fully enjoy the Medicare prescription-drug benefit.”
Interesting. If this young man had any idea of how much Medicare is going to change under Obamacare, he would not be complaining of this. I lecture all over my state about Health Care. Folks currently over 55 are, by far, the hardest hit group by Obamacare.
Under Obamacare, by 2019, reimbursements to Doctors under Medicare will be LESS than Medicaid reimbursements. Medicaid is probably one of the worst medical programs in the world. What Obamacare accomplishes is to make sure seniors will receiving worse medical core than Medicaid currently gives.
It is going to be a huge shocker for seniors.
The younger generation whining and crying again....Endlessly blaming others.
It seems this is all they do.
Boomers didn't give us the "Great Society." None of them could even vote for LBJ. Only the oldest boomers voted for Bobby Kennedy in 68 or McGovern in 72. It wasn't until the 82 midterms when all of the boomers could even vote.
Not every boomer was a hippie. Boomers gave us Reagan, and also Clinton. Some of them gave us Osama (although that's more split), but the older millennials (Younger ones haven't voted yet) are the most guilty of giving us that clown.
I went to this guys Urban center website, and took a look at his info...
Based upon income data, most will take out more than they put in...
However, there is 1 category, what they call high wage ( couple making more than 75K ) that in 2020 retirement, will have paid in more than they will get out..
I fall into this category...
So, I am not a parasite, but I get to call the ones that say I am a parasite, a greedy leech that wants something for nothing, and willing to take away from the payers to give to the non payers...
Ha!!!!
After reading the article, I have a strong desire to take a tire iron to both these pricks.
The author of this story is so full of crap on so many levals it’s unbelievable.There are many reasons the economy of this country has been destroyed and being a baby boomer has nothing to do with it.
I,a baby boomer have worked all of my life and have gotten ZIP from the Federal Government as have a large portion of the other FReepers here.
What destroyed this country is the uncontrolled immigration from the third world.People who can barely add one plus one together coming here and immediately requiring social services and creating huge families that required new schools to support them.
Then there’s all of the welfare going to these third world cess pools in the billions of dollars that we’re borrowing from the Chinese.
I could continue on and on but I’d be here all day.
The boomers had nothing to do with this disaster.Their Government did.Though the boomers will be the ones who will be paying for it in the end thanks to Obama.
The lies, spin, and errors of omission here are too numerous to point out and refute individually. But you don’t have to get very far into the column for the clues to emerge that the author is a Democrat “blame-America-first” scumbag who, mainly, thinks taxes should be (much) higher and that people who worked all their lives and dumped half their paychecks down the government toilet - - rather than the welfare bums, deadbeats, and parasites who comprise his party’s “base” - - are the “parasites”.
The author’s father is apparently a liberal Democrat scumbag, too, and he essentially agrees that yeah, his generation, the “baby boomers”, is a bunch of parasites but, hey, so was the previous generation, the so-called “greatest generation”.
You can bet the author is just another Democrat punk who pushes the false dichotomy that Americans are confused schizophrenics who want lots of government “services” but “don’t want to pay for them”. It’s a con job. A lie.
The people who demand all the “services” and “free” money from government are NOT the hard-working, traditional American families who pay all the taxes. And the hard-working, traditional American families who pay all the taxes are NOT the bums, deadbeats, and parasites who exchange their votes for “free” stuff from Democrat politicians. These are two separate and distinct groups of people. One group is the Republican “base” and the other is the Democrat “base”.
Lovely Alinsky tactics here. Divide and conquer works.
Who destroyed the economy. Stupid question. Simple answer: liberals.
Don’t blame all the baby boomers.
There are those of us who are industrious and then there are the former hippies and flower power idiots who ruin everything they touch.
1) rent and price controls cause decline of quality of housing and goods
2) minimum wage and pro labor and pro union legislation causes unemployment
3) chronic budget deficits that are unfinanced cause deflation and increasing national debt
4) lack of gold standard and fractional reserve banking, and the ability of the Fed to create money out of thin air, causes inflation
5) inflation to finance budget deficits causes less savings
6) confiscatory taxation to finance budget deficits causes less savings
7) government borrowing to finance budget deficits causes less savings
8) less savings causes less investment which causes less capital accumulation
9) the assault on the wealth of, spending by, and income of the rich is an assault on private property rights and an assault on the improvement of productivity of labor which causes both lower average real wage rates, and economic stagnation or decline. The assault on the rich also causes destruction of incentives to accumulate and maintain capital and to improve and maintain production. Losses in terms of innovation and the growth of major new industries would be substantial.
10) government redistributionism causes less capital accumulation
11) less capital accumulation causes economic decline
12) environmentalism's fear of and hostility to science, technological progress, and economic progress cause more regulations
13) liberalism's fear and hostility to the rich, businessmen, and capitalists cause more regulations
14) health and safety concerns causes more government regulations
15) excessive government regulations causes economic decline
16) antitrust legislation cause continued survival of inefficient producers, high cost producers, dull producers, and incompetent producers
17) government interventionism which leads to an assault on freedom of entry and competition causes the barring of capable sellers from the market and restricts the range of choice of suppliers to buyers
18) egalitarianism and the libtard assault on economic inequality causes the abolition of causality. Which means the abolition of the connection between and individual's efforts and his income and the abolition of cost in the spending of income. This leads to the incentive to do as little as possible and to spend as much as possible.
19) the decline of rationality and the increased acceptance of the libtard delusion that the government can provide benefits for which the citizens do not have to pay causes the destruction of traditional American values and loss of freedom which leads to all of the above.
This dude’s whole argument is off, considering that it is the younger generation voting in the socialist Democrats and their policies, while blocking conservative reforms.
This comes from THE ATLANTIC. No need to read any further. THE ATLANTIC is full of old wrecks, fish sh-t and crabs.
Anybody who voted for a Democrat is responsible.