Skip to comments.Entitled Selfishness (Boomer Generation Is in a State of Denial)
Posted on 01/10/2007 1:53:55 AM PST by MinorityRepublican
As someone born in late 1945, I say this to the 76 million or so subsequent baby boomers and particularly to Bill Clinton and George W. Bush, our generation's leading politicians: Shame on us. We are trying to rob our children and grandchildren, putting the country's future at risk in the process. On one of the great issues of our time, the social and economic costs of our retirement, we have adopted a policy of selfish silence.
As Congress reconvenes, pledges of "fiscal responsibility" abound. Let me boldly predict: On retirement spending, this Congress will do nothing, just as previous Congresses have done nothing. Nancy Pelosi promises to "build a better future for all of America's children." If she were serious, she would back cuts in Social Security and Medicare. President Bush calls "entitlement spending" the central budget problem. If he were serious, he, too, would propose cuts in Social Security and Medicare.
They are not serious, because few Americans -- particularly prospective baby-boom retirees -- want them to be. There is a consensus against candor, because there is no constituency for candor. It's no secret that the 65-and-over population will double by 2030 (to almost 72 million, or 20 percent of the total population), but hardly anyone wants to face the implications:
By comparison, other budget issues, including the notorious earmarks, are trivial. In 2005, Social Security, Medicare and Medicaid (the main programs for the elderly) cost $1.034 trillion, twice the amount of defense spending and more than two-fifths of the total federal budget. These programs are projected to equal about three-quarters of the budget by 2030, if it remains constant as a share of national income.
Preserving present retirement benefits automatically imposes huge costs on the young -- costs that are economically unsound and socially unjust.
(Excerpt) Read more at washingtonpost.com ...
It really does come down to parenting and doing that right. There is nothing else to pin it on -- who else is raising the kids and has responsibility for them? Single moms with a clue get neighbors or other family members (even those 200+ miles away) to check on the kids. Church groups also help out if asked.
I know this works - I was the kid in that environment and what I outlined above DOES work. Especially if the kid is encouraged to get a job at age 15 to keep him out of trouble :-)
How much of what they have is purchased with credit? And how much of what they have is going to be used for medical care / nursing home costs? Co-pays get you every time from the doctors office to the prescription counter.