Baby boomers can’t expect retirement.
The good news is that I see this shitty market hiring 76 year olds over young upstarts.
Baby boomers are not the problem, we are the solution.
I feel awful for the young upstarts but their it is..
We funded our parents an grandparents retirement as well as our great grandparents.
It was crappy when We started out, and I expect young upstarts will do fine when I am in the ground.
My Father told me way back when “Nobody owes you a living”
I wonder - will the compromise involve greater government spending?
The problem in a nutshell is the Gubmint which is made up of 537 elected officeholders to the executive and legislative branch from both political party elites are LYING scum.
The population is INCREASING and the work foce is DECREASING yet the unemployment rate does not reflect that shift because the Gubmint be cooking the books by trickery such as adding 3.5 million to SSI disability in the Barry's socialist term of office.
The demographics of the babyboomers may be a problem, but the problem in a NUTSHELL is that the population is INCREASING while the workforce is DECREASING and that my friends is the CLASSIC definition of socialism.
>> the Baby Boomers (now ages 48-66) represent the most significant population wave in US history.
We were in like Flynn before abortion was in...
On the one hand this is likely to collapse under its own weight. The interesting dynamic here, though, is that here in the U.S. we have entire industries built up around catering to retirees who have a steady, substantial source of income ... and these industries are going to fight hard to preserve the status quo even as the entire economy slides into the toilet.
It's not clear in this poorly written article whether the writer is referring to actual welfare programs in that sentence, or if SS and Medicare are considered to be welfare programs.
But here we have another article bemoaning the SS and Medicare situation, while having little or nothing to say about the $1 trillion per year NOW BEING SPENT on the hodgepodge of welfare programs, the benefits of which are largely paid to working age Americans who don't work.
Based on recent articles stating that 100 million now receive benefits from various welfare programs, and 60 million are now on Medicaid (rising to 80 million if Obamacare if fully implemented), and 47 million receive food stamps (Swipe your EBT), it appears that around 20% of WORKING AGE ADULTS are now being supported by government welfare programs.
How does the future funding for all those welfare programs look? How much have the recipients paid into funding those programs?
There is the real problem that must be solved to put our fiscal house in order, and getting folks off welfare into jobs is the only solution. Again, these programs NOW cost a trillion per year, about 30% of the entire federal budget.