Skip to comments.Are baby boomers to blame for debt crisis?
Posted on 07/30/2011 10:32:57 PM PDT by rabscuttle385
Baby boomers -- those born between 1946 and 1964 -- have been described as "the pig in the python" and the "sandwich generation."
They lived well, grew up in relative abundance and, some say, expected their Social Security, health care and government support to be there as they grew old.
Now, as the future of the country's economy is up in the air, is this group of 80 million aging Americans -- many of whom are sprinting toward retirement age -- the ones to blame for the nation's shaky economic system?
Thomas Firey, a senior editor at the conservative Cato Institute and member of generation X, said it's unclear as to what's going to happen to Social Security.
"Under current law, what's supposed to happen is once the trust fund runs dry, the benefits are to be cut by roughly 25% to bring it back into balance. Each year's income will equalize the outflow," said Frey..."But no one expects that to happen. (So) are we going to raise taxes on current workers? Are we going to get rid of the tax?"
But criticizing baby boomers is not necessarily a politically wise thing to do, especially when it comes to their voting behavior.
Jerry Shereshewsky, the self-described "chief grown-up" at the firm GrownUpMarketing, is a baby boomer. The 65-year-old said it's not his generation group to blame, it's Congress'.
"It was not a secret that this largest cohort in American history was going to get older every year," he said. "The fact that Congress has not done a very good job of keeping up with what is really happening in the world: life expectancy, better medical care. You give people a lot of cake and ice cream, they're going to eat it."
(Excerpt) Read more at articles.cnn.com ...
You - and the rest of your generation - voted for them.
Reap what you sow.
Congress and LBJ are the chief idiots...War on Poverty, all the alphabet agency’s that have blossumed since the 60’s. Some old foggy like me is not to blame. I never voted for a democrat since Kennedy. Truth be known lots of us voted for him cause he was catholic...
But I bet you voted for plenty of Republicans, many of whom were quite happy to continue the maintenance and expansion of Big Government.
The thing is you are forced to participate in the system
so I do not blame people who were forced to take some of their paycheck and put it into a system and in return they were told they would get the money when they retired. Heck you can not opt out of it. The congress stole the money and used it for other things and gave it to people who never paid into the system. So I don’t blame those born between those years. As far as “reaping what you sow” for voting either party both of which are dirty should they just not have voted?
The elephant in the room is abortion.
No, they should have stopped to think and voted with their consciences instead of playing the games of "oh, so and so can't win...he (or she!) isn't electable!" and "if you don't vote Republican, you're voting Democrat!"
Not true. The Baby Boomers have been traditionally right wing. Always end up voting for the GOP candidates. Now Gen X and the Millennials is a different matter.
No, it’s the socialism, stupid. DEFUND socialist collectives, foreign and domestic. The parasites will collapse and WE the people will be solvent very fast.
Not all GOP candidates - presidential or Congressional - are of the small-government variety.
It is possible to vote for a Big Government Republican like Bush or McCain.
Well, considering that Social Security, Medicare, and Medicaid are socialist collectives, I'd say - let's start with those programs.
Those born between 1935 and 1950. Especially in the north east. The ones who are children of Stalinist dupes.
After Stalin's death, Khrushchev exposed his atrocities. Communist Party membership in the U.S. virtually ceased to exist.
Unfortunately, they had already indoctrinated their kids. Second generation Commies have had extraordinary success in America.
HUM no we did not vote them in.Only the boomer born in 1946 were old enough to vote when the trust fund was directed to the general fund in 1967.
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.
Who put them in power?
Ah yes, the voters.
Your comment is kind of like saying you, and the rest of your generation, voted for Obama.
I might remind you that us baby boomers, the 80 MILLION of us have not YET drawn a dime of the $TRILLIONS of dollars that we contributed which was robbed to support Generation X and Y’s ability to live off of welfare in the form of food stamps, housing subsidies, WIC, school lunches, electricity subsidies,unemployment benefits (by the way which weren’t available to us when we lost our jobs which was extended for YOUR benefit in 2010), and subsidized health care and Pell Grants. I hope YOU enjoyed it. AND, I might remind you that generation X has been voting themselves since about 1982! REAP WHAT YOU SOW!
No, but they could have put an end to the "trust fund" chicanery in the years following.
When handed a bucket of s#!t and told to pick the best turd, you are screwed. I voted for Romney last go round just because he was the best of the bunch. Sometimes there is no clear good choice. The point is that Boomers are not the dope smoking hippies that the movies portray them as. They are right wing. They are not the problem and shouldn’t be scapegoated. I am 38 so I have no dog in that fight.