Skip to comments.Are Millennials the Screwed Generation?
Posted on 07/17/2012 8:00:56 AM PDT by C19fan
Todays 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? Lets 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 ...
The whiniest generation weighs in.
‘Screwed’ is pretty much the nicest word that can be used to describe what the Boomers and GenX’ers have done to the next...oh....3 or 4 generations.
The Boomers and GenX’ers should be combined under one label: Generation Thieves.
IMO, they are becoming ‘entitle-ized’, via zero’s Socialist/Marxist policies.
Oh please...what we’ve done to future generations is a crime.
Just curious why you group X’ers with the Boomers? I am an Xer and from I understand I will be lucky to get the money I paid into Social Security back with zero interest.
You have to lump the Xers with Boomers, otherwise it wouldn’t all be about the Millenials, and they can’t have that.
>> I am an Xer and from I understand I will be lucky to get the money I paid into Social Security back with zero interest.<<
I am a Boomer and am 100% sure I won’t see a dime. It was the so-called “Greatest Generation” that screwed us all with the Ponzi schemes of medicare and Social Security (as well as the Welfare State).
The Boomers only sin is working to older age. The Millennials and Whiners should have learned how to work when they were young instead of getting awards for using the potty properly (God knows the kids I see coming out of College don’t know the meaning of the “w” word).
Anyone younger than 55 who thinks he/she will see a DIME of Social Security is delusional. SS is exactly zero in my retirement planning.
Elections have consequences. They voted for Obama. Now they can enjoy the fruits of their vote.
I don’t really think it is necessarily a generational thing. The people responsible are the various criminals who vote for LIBs, DIMs and RINOs. By the way, I do feel that those voters are all societal criminals.
Got that straight. The millenials are the biggest bunch of whiners in history. Their parents mom and dad, yes the evil boomers and some older Xer’s, both worked so their little darlings could have everything they ever wanted without having to, gasp get a job. They went into debt to pay for pre-school, college, buy iPhones, iPads, and cars so their children wouldn’t be left behind. They paid for band and sport fees so their kids could participate in all the activities at school. They ran their little league teams and made sure that everyone got a trophy and now that things are little tough for the urchins it is all mom and dad’s fault that the world won’t give them a high paying job that they are not qualified for. I am tired of listening to these little sh*ts who have never lived with out A/C, cell phones, computers, big screen HD TVs with 400 channels complain about how hard they have it. Get over yourself nobody owes you anything and as my old man told me once when I was griping, “The world isn’t fair son and the sooner you learn that the better off you will be.” Geez.
What a disaster this generation is.
I’m an X, too.
As much as I’d like to sit back and blame our current problems on the boomers, I can’t. I have to be honest with myself.
All the crap that’s been passed by Congress the past few years required the votes of Xer’s who are now serving in Congress. All the state and local governments that are being mismanaged and financially destroyed have our hand in their destruction.
We’ve participated in - and even designed - some of the most fiscally irresponsible financial vehicles that have been bringing the markets to their knees. We embraced sub-prime lending, real estate flipping and etc...
And worst of all: it’s our generation that’s raising the current crop of whiners going through our schools. Those are OUR kids that we’re not educating to be self-sufficient, productive members of society.
Our hands aren’t quite as dirty as the Boomers, but they’re pretty dirty.
The screwed generation, defined as the one generation to pay their whole working life into Social Security without getting any benefits, will either be the Millenals or Gen X'ers, depending on how long the politicians kick the can down the road. The taxpayer revolt will come after the benefits stop.
>>The screwed generation, defined as the one generation to pay their whole working life into Social Security without getting any benefits, will either be the Millenals or Gen X’ers, depending on how long the politicians kick the can down the road. The taxpayer revolt will come after the benefits stop.<<
That isn’t how I am planning nor is that how the numbers work out. Smart Boomers make it a zero in their planing.
So SS is another tax — deal with it. Social Security is so small anyone who planned on it for retirement is an idiot anyway.
Do what grown-ups do. Plan for retirement according to the probable scenario.
Amen! It wasn’t Boomers who gave us FDR.
Nonsense. Boomers are the ones paying the exorbitant taxes that support all the goodies that the generation before them now receive. Boomers are the ones who are going to be left holding the empty bag when this Ponzi scheme collapses.
I don't consider my $2400/month to be pocket money, FWIW.
So my little whiney boys and girls born after 1964, we are all in this boat together. The boomers have been screwed all our working lives supporting all the “greatest generation” with SS payments tied into the cost of living along with generations of welfare folks who never paid a dime into the system.
Those of us boomers still working know there in NOTHING for us after we supported all these guys on our working backs for decades!
Quit your b@tching! It is the Socialists who kicked this ponzi scheme down our throats. Time to pay the piper.
This generational demonizing that you fall for is pure bullsh@t!!!
So stick it to the younger generations, from the day you tried to abort them to the day you cleaned out their bank account, then turn around and put them in charge of the Death Panels.
Way to go, Fellow Boomers, way to go!
I agree with you completely-in this community, it is the “greatest” gen-ers, some of whom are my customers, who howl the loudest for free everything-and the ones who voted for Obama are really having buyers’ remorse. Most of them are financially very well off, too-be careful what you wish for...
The people complaining should try living as a widow who isn’t well off trying to make a living and pay bills in a stale economy, 21 year old vehicle, ramen noodles and all-just for one month.
It is like being a broke single mom going to college and working all over again for me-and I have never taken one dime of government assistance-not one loan, not one food stamp, no AFDC, etc-and I never will.
This boomer has always known that she would never see a dime-I will be working till I die, and that is okay-I love to work. The problem now is that Obama’s crap has made work scarce/non-existent work for most of us.
I wish I had more sympathy these younger adults, but I’m fresh out...
2400.00 in social security OMG this surprises me!!!
I was pretty much at a max deduction level from the time I was 21 - in the early years it was due to overtime.
Between SS and Mediscare I’ve “contributed” over a quarter mil.
The best we can hope for is that there will be work available again for all of us if we change the regime in Washington-hopefully, we just have to hang on a bit longer...
That'd be a handy stack of gold eagles.
>>I don’t consider my $2400/month to be pocket money, FWIW.<<
That is if you get to the $120K level after 30+ years.
And $48K that isn’t enough to keep even close to the lifestyle a $120K paycheck creates.
It is proportionally a small amount.
Personally I believe that I’ll get every dollar that was promised.
The problem will be 20 yrs from now a hamburger will cost 100 bucks.
Inflation and the Death Panels will pretty much guarantee that SS and Medicare are financially viable.
This is the biggie in my opinion. The boomers at the top, who never quite got how it all worked, were quite content to rake in the profits (savings of others) without examining the sausage making process.
Absolutely! We are all Americans here.
May God help us and may God have mercy on the United States of America!
What does the $48k in your comment refer to?
I read your post then I read your tag-line. Then I laughed.
P>Or LBJ, Nixon, Viet Nam, Roe v Wade, Feminism, third world immigration...
Notice the beautiful job there doing of painting the COLA again this year. Somebody slipped up last year.
THERE = they’re.
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?
Amen! I don’t really see how the in-fighting helps anyone-the “greatest” gen’ers have lapped up FDR’s crap for years without even thinking about the fact that ponzi schemes are not sustainable, and now we’ve got millions of riders of the purple wage with their snouts in that trough, as well, through ambulance chasers soliciticing largely bogus claims.
They also enabled LBJ to create the welfare state, while we boomers were way too young to vote. I agree with those who believe we need to de-fund and eliminate most government agencies and programs-it is the only way to get long term stability for all of us. I’m perfectly happy to keep working forever-but I want to see others doing it too. And for that to happen, we need a healthy economy.
Now that the yellow brick road is crumbling, too many of us in all generations want daddy government to “fix” it with anyone’s money but theirs. The cold, hard fact that no one wants to see is that their precious government has spent ALL of our money, and there is no one left with enough to sustain the goodies...
Because we have paid the most into SS and Medicare and will not collect. And unlike the people who spit venom at the people who are their friends and family, I am all for stopping these programs if it will save our kids and grandchildren from crushing taxes in the future. Government programs pit groups of people against one another in a fight for the spoils.
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.
The benefits may be minimal but the taxes aren’t.
And that is what sometimes happens if one gives someone else the power of life and death over them, even now. In this family, we don’t go to the medical estasblishment unless we are dying already, or need a bone set, stitches etc. We take no drugs, only natural supplements and eat fresh foods. Our legal directives are plain-do not bring us back, period. When God says time to go elsewhere, that is what I’m going to do-no way will I allow anyone but Him to be in charge of that.
“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.
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.