ANOTHER economic mess looms on the horizon—one with a great wrinkled visage. The struggle to digest the swollen generation of ageing baby-boomers threatens to strangle economic growth. As the nature and scale of the problem become clear, a showdown between the generations may be inevitable. [Snip] By 1964 individuals born after the war accounted for 41% of the total population, forming a generation large enough to exert its own political and economic gravity. These boomers have lived a charmed life,
Comments: I'm a Boomer, and have not "lived a charmed life". I disagree w/ the blanket premise my generational peers are nothing but "spongers". You can here-and-there criticize points about each and every generation.
Yes, the boomers lived through the Cold War and I have always thought that the reason they rebelled against us, their parents, was because of the Cuba missle crisis when they (here in Florida at least) huddled under their school desks practicing "survival tactics". They knew that we could not protect them. My 5 yr old daughter said "Well, if I die now I certainly did not live very long." My son said, Mom, if I grow up I want to . . " It is not good for children to know that their parents can't save them. My baby was happy and secure because he had no idea what was happening.
But to an extent they lived a charmed life because we spoiled them. How could we not?
Nobody would be 'sponging' and everyone would be enjoying the fruits of living in a free country, if it weren't for the endless thirst for power by the democrat party. First LBJ sunk a fortune of blood and treasure into years of a 'limited' Vietnam war combined with a 'war on poverty' which became a generational addiction to 'free' Federal government money. Then succeeding generations of politicians led by pandering democrats added more 'benefits' that sucked the energy of every business cycle. Finally democrat allied unions failed generations of low achieving children from single parent homes that flowed from the war on poverty economic structure. Just when the walking economic corpse might have been able to adjust to all of this, BHO and the democrats in congress decided to go for one more benefit, housing for all those imagined, homeowners who were 'barred' from owning a home they could not afford. Derivatives followed which greased the slide of almost every country into unprecedented debt that will destroy the global economy. The democrats couldn't do it without RINOs, corrupt Republicans and most of all, the media.
No boomer here. Too old. Born in '42. But I worked for over fifty years.
I added up my contributions to SS and figure if I live 8 more years I will break even. Actually not if you count interest lost. I am not complaining and I don't think any generation deserves to be called spongers.
Maybe the current twenty somethings will turn out pretty bad. Especially when history notes that they put Obama in office.
Now it's all our fault !!! I guess I sponged my way into the Viet Nam era Army too. I know this is sacreligious but the group who benefitted most from Boomers entering the workforce was the WW2 generation. That 41% pumped billions into the Social Security pot o'gold. We'll get limited service,maybe death panels, and kids that will blame us fior everything except that hey voted democrat.
And thanks to the "Greatest Generation" for taking many times more out of Social Security than they paid in, and electing all the clowns who've voted to borrow even more money to make sure their children and grandchildren will probably never get out from under the debt burden.
#14 points out that the Social Security system was put in place by the "Greatest Generation" and their parents. The boomer generation paid for it. Our payroll taxes have been several times higher than the first generations living off Social Security. Unfortunately, the payroll taxes will continue increasing on future generations because Dems and the media just cannot understand the math in this Ponzi scheme.
Author completely misses the biggest change...and it isn't the boomers. Demographers have known since we were born that we would be a big group moving through the generations. No, the big change came from LBJ's Great Society - the break-up of the poor family. Most of us baby boomers came from parents who struggled and saved. Almost always mom and dad were married when we were born; most of 'em stuck together for life. Single parent families often moved back in with the grandparents or shared a house with another single parent.
Somewhere along the way we got the silly notion that everyone 'deserves' a separate place to live - complete with air-conditioning, television and Internet. The percentage of out-of-wedlock births skyrocketed. To parents of boomers, to boomers themselves, the viral video "I want my Obamaphone!" is absolutely nuts. This isn't how we were raised, nor how we lived.
The title alone tells me I don't heed to read it. This "Boomer" started on a paper route in 1959 and has worked ever since. Included was a years vacationj in Viet Nam courtesy of Lyndon Johnson and the USAF. I have been a useful contributor to society for the majority of my life and have never spent an hour in jail, on welfare, or cashed a food stamp. I haven't lived in Section 8 housing and have no government supplied cell phone.
All I ask is what I've paid for and deserve and later that plot in a national cemetary. The Economist can KMA!
I'm a Gen Xer with several Boomer friends, most of whom I met at work. Their values are very admirable, & it is sad to see them not as valued as I think they should be. They work lots of extra hours even though they are salaried & don't get paid any extra to do so, & are loyal to employers who are not loyal to them in return. The younger generations watch how they are treated & as a result many of us don't work late nearly as much, & when a recruiter calls, we take the call.
Reply 21 - Posted by:
get er done, 9/29/2012 10:06:07 PM (No. 8899444)
The "Staff" of the Economist blames "sponging (baby) boomers" for problems with our economy. I blame the liberals and their endless handouts which has created closely spaced generations of laybouts who believe that they are "entitled" to food stamps, free cell phones, free educations, free housing, etc. etc. ad nauseum, for the problems with our economy. I blame Barack Hussein Obama, aka Barry Soetoro for $5 trillion added to our country's debt during his term in office. I blame our Democrat controlled congress for the Fannie Mae/Freddie Mac scandal.
Baby boomers have worked all of their lives and paid oodles of money into Social Security, and other government funds. Our government has robbed Social Security, and now Obama as robbed Medicare.
This 41% of the population needs to get out and vote for Mitt Romney and Paul Ryan so that they can begin to clean up the ungodly mess that the Libs have created.
When I, along with my employers, was paying income taxes for over 45 years and then medicare, it was used for someone else and other government programs (thanks LBJ). Now that I am at the age where where I need to receive what I was promised, am I supposed to just die. It doesn't sound to me like the boomers are the only ones who are selfish. They tagged us baby boomers because after WWII babies were being born in large numbers due to soldiers returning home, families being reunited and people getting married and starting families.
This particular boomer and spouse have worked for everything they have, have done all the "right" things in life--marriage, home, family, in that order. The family we raised is a benefit to society (good students, college graduates, hardworking even though they can't find good jobs, no drugs, welfare or illegitimate children). Along the way we took care of ailing parents and grandparents, some of whom didn't even live long enough to collect Social Security themselves.
I'm sick and tired of hearing what a bunch of spongers we are. If anyone is to blame, it is the criminal politicans who were and are more interested in their own power and comfort than in the good of our country.
And we're certainly a lot worse off than the Economist says we are in what we have lost to this economy. Interest on our life savings, accumulated by NOT taking vacations or living high on the hog: .05% or thereabouts. That will help with inflation, won't it?
And thanks to Obamacare, we'll be expected to shuffle off this mortal coil by taking "the pain pill."
#21, as long as you are sniffing around looking for someone to blame--blame the hard left,of EVERY generation, who threw money down a rathole for decades, expecting a different result each time. (the definition of insanity.) I suspect you won't be barking up that tree, though, because you own it.
Hamilton, N.Y. - If Hillary Rodham Clinton was a candidate for president, the terms "scorched earth" and "evidence-free zone" would likely be household terms. [Snip] Her first public speech was Oct. 4 at Hamilton College, in Clinton. She spoke at the University of Buffalo on Wednesday. She said she visited Corning, Inc. earlier Friday. Her talks are essentially a briefing on the state of the world with context about the way others view a country that shut down its government and fought to the brink of a debt crisis. Her speech does not have the repetition of a political stump
AMHERST, N.Y. - Former Secretary of State Hillary Clinton spoke at the University of Buffalo, Wednesday night, and had an interesting encounter with one of the attendees. During Clinton´s speech, where she discussed greater cooperation and less partisanship in Government, a man stood up and started shouting, "Benghazi, you let them die." [Snip] Clinton will be speaking locally at Colgate University, Friday at 6 p.m.
Washington - Both of Western New York’s Republican congressmen find themselves backpedaling furiously from the tea party strategy they supported that led the nation to a 16-day government shutdown as well as the brink of default. Both Rep. Chris Collins of Clarence and Rep. Tom Reed of Corning said in response to questioning that it was a mistake for House Republicans to tie the funding of government to defunding of Obamacare [Snip]. Collins, in an interview, blamed the failed strategy on Sen. Ted Cruz [Snip]. “I think Sen. Cruz has done a disservice to the Republican Party,” Collins said.
Ariel Castro, who was sentenced early last month to life in prison (plus an additional 1,000 years), was found hanging in his Ohio cell on Tuesday night, according to local authorities. Here´s the official statement from JoEllen Smith of the Ohio Department of Corrections [Snip] Castro, 52, was sentenced on Aug. 1 after pleading guilty to holding three women captive in his Cleveland house for a decade and raping them
The family members of an Illinois couple who died just hours apart after 71 years of marriage have described the couple as inseparable. The union of Robert and Nora Viands began on a blind date in 1942 - but it was hardly love at first sight. Family members tell the Journal Star that Nora told Robert she never wanted to see him again after their first meeting.
President Barack Obama’s bus tour through upstate New York is expected to cause road delays and temporary closures on the state Thruway this week. [Snip] As is customary, specific details of Obama’s route aren’t being made public. But in an alert issued Wednesday morning, the Thruway Authority said motorists should stay flexible, as they may be temporarily blocked from re-entering certain roadways from Thruway exits and rest areas on Thursday and Friday between Buffalo and Syracuse. According to the White House, Obama is scheduled to give speeches in Syracuse and the Buffalo area on Thursday, before he hosts a town
A 95-year-old world War II veteran died after being Tasered and hit with bean bag rounds by police for threatening care home staff [Snip] An autopsy found that the 95-year-old man died from internal bleeding after being shot in the stomach from a bean-bag gun. [Snip] Grapsas said he was told that between five and seven responding officers came armed with a riot shield commonly used in demonstrations to enter Wrana’s room before shooting him in the stomach.
I have never been much of a conspiracy theorist. For me it was always Oswald by himself from the Texas School Book Depository and nothing in the intervening fifty years has disabused me of this notion. For the most part, I’m an Occam’s Razor kind of guy — the most obvious explanation is likely to be true. (Snip) To put it bluntly, Occam’s Razor has moved. Things that were once possibilities now seem almost certainties to me. Principal among those is that Obama’s academic records are perpetually unavailable for a reason — and that reason is most likely that they reveal
One of President Obama´s chief political assets has been his ability to excite young people like almost no politician in history. But the days of America´s youth fawning over the president are over. A new Harvard University Institute of Politics poll released Wednesday confirms what other surveys have shown in recent months: Millennials have soured on Obama so much this year that their opinion of him largely mirrors the American public´s. Even though Obama does not ever have to face another election, he should be worried about the findings for a couple of reasons, which we will dive into momentarily.
Last summer on his $100 million family tour of Africa, Barack Obama hoped for a priceless photo op with Nelson Mandela, the ailing freedom pioneer who went from prison cell to the presidency of South Africa. Mandela´s family suggested that wouldn’t happen. So, the Obamas did a photo op in Mandela´s former prison cell. Which Obama’s White House quickly tweeted upon word of the icon´s passing at 95. [Skip] But Obama was also caught staring at television coverage of Mandela’s passing, which became Obama’s Photo of the Day.
Hardly a week goes by without Hillary Clinton receiving another award. Last month she was named a “Global Champion” by the International Medical Corps, received the American Patriot Award at the National Defense University Foundation and the Hermandad Award from the Mexican American Leadership Initiative. [Snip] At this rate, if a bunch of elderly left-wing Swedes toss her the Nobel Peace Prize early on, the way they did to Obama, it will barely rate mention among all the other glittering trophies that have been bestowed on a woman whose only actual accomplishment was being married to a crooked governor with
A stunning new study unveiled on Fox News´ Hannity finds that President Barack Obama’s White House calendar records just one face-to-face meeting between Obama and his Health and Human Services (HHS) Secretary Kathleen Sebelius in the more than three-and-a-half years leading up to the disastrous Obamacare launch. The startling statistic comes from a new Government Accountability Institute (GAI) analysis of Obama’s own official White House calendar, as well as the Politico presidential calendar, and raises new questions about Obama’s executive leadership and management throughout the implementation of his singular legislative achievement. More alarming still, the president’s schedule lists 277 private
Speaker John Boehner said his party should support gay Republican congressional candidates and urged his colleagues to “be a little more sensitive” when running against women. “Some of our members just aren’t as sensitive as they ought to be,” Boehner said. When asked if he thinks his party should support gay candidates, Boehner simply said: “I do.”
Amid an array of “knock-out” attacks against a number of Jews in Brooklyn’s Crown Heights neighborhood, a city councilwoman pointed to the success of the Jewish community as triggering the aggression. Councilwoman-elect Laurie Cumbo emphasized that while she “admire[s] the Jewish community immensely” for its work ethic, black teens may see it differently. “While I personally regard this level of tenacity, I also recognize that for others, the accomplishments of the Jewish community triggers feelings of resentment, and a sense that Jewish success is not also their success,” Cumbo, who was recently elected, wrote in a letter. Chief among the issues