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Baby Boomers Are What's Wrong With The Economy


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2015 Nov 28, 7:06pm   35,077 views  86 comments

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https://www.washingtonpost.com/posteverything/wp/2015/11/05/baby-boomers-are-whats-wrong-with-americas-economy/

From the article:

My generation, Gen X, is in far worse financial shape than our parents were at the same age. Millennials are even worse off than we are. Soon after the Great Recession ended, the Pew Research Center reported that middle-class families were 5 percent less wealthy than their parents had been at their age, even though today’s families work a lot harder — the average family’s total working hours has risen by a quarter over the past 30 years — outside the home, and even though they’re much likelier to include two wage earners. The ensuing recovery has made things worse. Middle-class families owned fewer stocks, businesses and homes in 2013 than they did in 2010, according to calculations by New York University economist Edward Wolff.

Meanwhile, future generations will have to pay the costs of weaning the world from fossil fuels and/or adapting to warmer temperatures, rising seas and more extreme weather. (Estimates vary, but some projections suggest they could total trillions of dollars for America alone.) They will also have to shoulder the burden of keeping America’s retirement promises to the boomers. The Congressional Budget Office estimates that the rising costs of Social Security and government health care that will stem from an aging population will consume two more percentage points of America’s economic output by 2040. If policymakers don’t find the revenue to pay for it all, the CBO projects that the national debt will climb past 100 percent of annual gross domestic product — quadruple its post-World War II low.

And yet almost no one suggests that boomers should share the pain of shoring up those programs. Folks my father’s age like to say they’ve paid for those benefits, so they should get them in full. But they haven’t. The Urban Institute has estimated that a typical couple retiring in 2011, at the leading edge of the boomer wave, will end up drawing about $200,000 more from Medicare and Social Security than they paid in taxes to support those programs. Because Social Security benefits increase faster than inflation, boomers will enjoy bigger checks from the program, in real terms, than their parents did.

The sin here isn’t exactly intentional: It’s not boomers’ fault that there are so many more of them than their predecessors (their ranks peaked near 80 million, some 30 million more than the Silent Generation before them) or that they’re living longer (retirees today can expect to live three or four years longer than their grandparents). The sin is that boomers have done nothing to ameliorate their easily foreseen threat to the U.S. Treasury. They have had every opportunity: Congress has been controlled by a baby boom majority since the beginning of the George W. Bush administration.

#economics

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55   MisdemeanorRebel   2015 Dec 1, 8:08pm  

Some races, like Hispanic, seem completely built upon linguistic rather than physical characteristics.

For example:



Are all considered "Hispanic". If they were not Spanish Speakers, we'd say "Native American", "Caucasian/White" and "Black". Betcha Pedro uses a lot of Soul Glow.

56   Dan8267   2015 Dec 1, 8:13pm  

thunderlips11 says

I can't be a racist. I wanted to fuck Shakira for 15 years!

57   Shaman   2015 Dec 1, 8:25pm  

If I were to break down Dan's argument, reductum without the absurdio, it would be that making generalizations about groups of people within a CULTURE is perfectly valid, but strict race-based assumptions are not.
This is something I've been saying for years.
I guess we actually agree.

58   Dan8267   2015 Dec 1, 10:05pm  

What you call groups of people within a culture are more properly called subcultures. Yes, cultures and subcultures affect human behavior and not all cultures are good or equal. For example, a culture that stones women to death for adultery is morally inferior to one that does not.

And again, judging a culture bad is not the same thing as judging every individual in the culture bad. It is wrong to judge an individual based on a group, but it is right to judge a group based on the cumulative behavior of the individuals in it.

The generalization "men want sex with no strings attached" is true and fair even though some men consider sex outside of marriage to be a sin and an affront to their fictitious god. Such men do not want sex with no strings attached, but such men do not represent the group. Both individuals and groups can and should be judged based on their overall behavior. However, extrapolating the behavior of an individual from a group makes no more sense than extrapolating the behavior of a group based on a single individual. Both are logically flawed.

59   turtledove   2015 Dec 1, 10:37pm  

marcus says

America lost a about 200 thousand boomers in Vietnam, and very few from any other generation.

The US lost 58,000 in Vietnam. How are you calculating 200,000?

60   marcus   2015 Dec 2, 12:37am  

Dan8267 says

marcus says

What did the boomers do to kill off so many species that you wouldn't have done if you were a boomer ? Be honest.

I'm always honest, you dip-shit. Deception serves no purpose to someone who believes in rationality and transparency and does not accept the philosophy that the ends justify the means.

The first thing I would have done is not pollute the Earth like it's a toilet bowl. We should have a carbon tax. We should have signed the Kyoto Protocol. We should have implemented cap and trade. We should have never subsidized oil. We should not have promoted a car culture. We should have never allowed the expansion of dirty coal plants. We should have made high gas mileage standards back in the 1970s instead of building muscle cars.

You gotta love the way Dan starts off his answer with what a dip shit I am and how awesome he is.

I was asking what you would have done personally. Since after all the boomers are by and large a collection of individuals. Put yourself in the baby boom. The voting choices you would have had would have been the same. The corporate power structure, the military industrial complex, big oil, these were all around throwing their weight around long before the boomers came to power. Eisenhower was warning us about the military industrial complex when I was a toddler. Corporate America learned that big labor and the people in general could have great political impact, back in the 40s and 50s, and started planning how they were going to avoid that in the future, again, way before the boomers came to power.

Did a lot of boomers get MBA's and join the club, that was being run by the previous generation, as they rose through the ranks, yes. Should they have overthrown the old power structure ? Sure it would have been nice.

Who were the boomers ?

Well, there were people that were trying to be groomed for upper management, and there were people that intended to rise through the political ranks, and people in the media. These are primary people that MIGHT have been able to make a big difference in ways you suggest.

But other boomers included: artists, academics, scientists, and most of "labor," pilots, forest rangers, nurses, doctors, law enforcement, legal professionals of various types, dentists, psychologists, social workers, clergy, librarians, clerks, bankers, investment advisers, traders, early computer scientists, technicians and trades people of various sorts, including carpenters, electricians, plumbers, heating and AC specialists, contractors etc. Then there is retail, advertising, sales of many kinds, including realtors and mortgage brokers, education (teaching children). People in entertainment, radio or TV, or movies, writers of books, TV, or movies, the list goes on and on.

IF you weren't in the first category, it means you were given your political choices by people in politics, affected by media and the big money that back politicians, which can be traced back to the influence of the "owners" (that the famous boomer comedian George Carlin often referred to), way before boomers came of age.

So what would you have done personally ? Since after all, what the boomers are/were is a bunch of humans born in specific time interval, living their lives. Most of them in that second category, mostly focused on getting by, some were engrossed in their work, maybe they were raising a family, all the types of things humans have been doing for many centuries. Boomers aren't particularly different.

You measure them as different and blame worthy based on cumulative consequences of population growth, our free market capitalism run amok, and our political system not serving us well. The time that the shit hits the fan, doesn't mean that things are so simple that you can hold an entire generation responsible, because they didn't prevent it.

What would you have done different than most boomers ? I'm talking at the individual and personal level.

61   MisdemeanorRebel   2015 Dec 2, 8:10am  

...and the growth of the Christian Right is also a Boomer phenomenon.

http://patrick.net/?p=1250907&c=1141620#comment-1141620

And there's no evidence from exit polls that Boomers are generally progressive, if anything they lean Right and have since 1984.
http://patrick.net/?p=1250907&c=1141023#comment-1141023

'88 is also interesting: The Silents/Greatests who supposedly wrecked America were evenly split Bush/Dukakis. The Boomers went big for Bush the Elder.

62   marcus   2015 Dec 2, 10:01am  

thunderlips11 says

The Boomers went big for Bush the Elder.

The religious right, and the right wing propaganda machine were already in full swing by then, and yes, just like Fox news now, they are effective.

They got a lot of mileage out of one "hippy" that supposedly spat on soldiers coming back from vietnam.

http://www.salem-news.com/articles/february252008/vietnam_protest_2-25-08.php

We know that propaganda works, especially with certain segments of the population. That whole family values meme and the republican takeover of the a large swath of voters that were previously "southern democrats" started well before 1980 (actually it had been in full swing since the Nixon era), and was orchestrated by members of the greatest and silent generations. This continued to grow in to the 80s and after.

A solid 54% is a significant majority in an election, but in my view, it's not a very effective metric upon which to base generalizations about the entire poulation.

We are talking about what ? 5 to 8 percent of the population voting one way versus another, as the result of huge money and propaganda campaigns. And you want to draw conclusions about everyone from that ?

I would be the first to agree that there are a lot of stupid Americans, and there are a lot of gullible Americans. And I could tolerate you generalizing that Americans are stupid and gullible. But you won't do that, because you're an American. So instead, you pin it on the boomers, to let yourself off the hook.

That's pathetic, and it's what makes crybabies like you and Dan worse than boomers.

63   MisdemeanorRebel   2015 Dec 2, 10:46am  

marcus says

The religious right, and the right wing propaganda machine were already in full swing by then, and yes, just like Fox news now, they are effective.

The religious right is the outgrowth of the 70s Jesus Freaks. The population of the Right Wing exploded with 20 and 30 something boomers - and it's been declining since the late 90s/early 2000s as Gen X'ers and Millenials grew up and left it behind.

64   marcus   2015 Dec 2, 10:56am  

Boomers left their moderate religions behind in droves, at the same time that the Christian right grew (but not so much movement from one to the other).

The so called Jesus freaks were a miniscule contributor to the religious right.

65   Dan8267   2015 Dec 2, 2:08pm  

marcus says

You gotta love the way Dan starts off his answer with what a dip shit I am and how awesome he is.

You are a dip-shit, but where exactly did i brag about being awesome? You're just making up shit again.

marcus says

I was asking what you would have done personally. Since after all the boomers are by and large a collection of individuals.

Oh, my fucking god, you are such a fucking moron.

You are actually saying that because a single individual in a group does not have significant power over tens of millions of people, it is invalid to judge a group. Let's apply that logic to actual history. What would you have done, as a Nazi in 1935, to stop the Holocaust and prevent WWII? Oh, shit, a single Nazi could not alter history that much because he doesn't have that much power, therefore all criticism of Nazis is invalid. It is wrong to negatively judge the Nazis because no individual is 100% responsible for the Holocaust.

Fuck man, you're an idiot!

marcus says

What would you have done different than most boomers ? I'm talking at the individual and personal level.

I would have convinced your mother to have an abortion.

66   Dan8267   2015 Dec 2, 2:09pm  

thunderlips11 says

...and the growth of the Christian Right is also a Boomer phenomenon.

That alone constitutes more harm done than good by the generation.

67   Dan8267   2015 Dec 2, 3:38pm  

Ironman says

So adult of you!

Says the guy who's always bitching about bestiality insults hurled at him and then makes one himself. Hypocrisy much?

68   Dan8267   2015 Dec 2, 3:51pm  

Ironman says

Dan8267 says

bestiality insults

Another one of your finer adult traits..

Like I said, hypocrisy much?

Ironman says

Dan was hoping for some other type of animal/human interaction, the typical videos he watches on youtube.

That was a really stupid move. Now I can refer to this comment every time you call any of my insults immature. You're really fucking stupid.

69   Dan8267   2015 Dec 2, 4:51pm  

Ironman says

Would you like to show where I specifically reference bestiality in my quote. Oh that's right, you can't!! Who's stupid?

Ironman says

Dan was hoping for some other type of animal/human interaction, the typical videos he watches on youtube.

Ironman says

Who's stupid?

That would be you.

70   marcus   2015 Dec 2, 5:32pm  

Dan8267 says

Oh, my fucking god, you are such a fucking moron.

Dan8267 says

Fuck man, you're an idiot!

It's easy to tell when Dan knows he's wrong.

Dan8267 says

You are actually saying that because a single individual in a group does not have significant power over tens of millions of people, it is invalid to judge a group.

No, I'm not saying that at all. I'm asking what you would have done differently as a boomer, for that matter what are you doing now, that's making a difference ?

You would have done nothing different than the many 10s of millions of boomers who were living their lives and going along with the political choices they were given by a ruling elite. Maybe you would have been a liberal, okay. That doesn't effect the impact that the owner class has on the voting choices of the typical idiot.

marcus says

I would be the first to agree that there are a lot of stupid Americans, and there are a lot of gullible Americans. And I could tolerate you generalizing that Americans are stupid and gullible. But you won't do that, because you're an American. So instead, you pin it on the boomers, to let yourself off the hook.

That's pathetic, and it's what makes crybabies like you and Dan worse than boomers.

71   Dan8267   2015 Dec 2, 5:36pm  

marcus says

It's easy to tell when Dan knows he's wrong.

If I were actually wrong about something, it should be easy to demonstrate with evidence. Just because you keep surprising me with higher and higher levels of stupidity, does not make me wrong. Frustrated at your intellectual impotence, maybe, but not wrong.

72   marcus   2015 Dec 2, 5:41pm  


marcus says

I would be the first to agree that there are a lot of stupid Americans, and there are a lot of gullible Americans. And I could tolerate you generalizing that Americans are stupid and gullible. But you won't do that, because you're an American. So instead, you pin it on the boomers, to let yourself off the hook.

That's pathetic, and it's what makes crybabies like you and Dan worse than boomers.

73   MisdemeanorRebel   2015 Dec 2, 5:58pm  

Dan8267 says

If I were actually wrong about something, it should be easy to demonstrate with evidence. Just because you keep surprising me with higher and higher levels of stupidity, does not make me wrong. Frustrated at your intellectual impotence, maybe, but not wrong.

When Marcus goes to this line, It's his version of the Black Knight: Declaring "You know you've lost" or "Can't you admit to being wrong for once?"

"Come back here Sir Dan, I'll bite yer leg off! Coward!"

74   Dan8267   2015 Dec 2, 6:17pm  

thunderlips11 says

When Marcus goes to this line, It's his version of the Black Knight: Declaring "You know you've lost" or "Can't you admit to being wrong for once?"

So true.

CIC is no better. Ironically, these two trolls probably have a lot in common.

75   Dan8267   2015 Dec 2, 6:28pm  

You think climate change is a hoax, so your opinions don't count.

76   marcus   2015 Dec 2, 7:07pm  

I've never had anything against other generations or felt overly compelled to compare one generation against the next, other than maybe for music or fashion.

But you guys are convincing me to change. I'm going to start collecting reasons and rationalizations to hate those asshole genxers and millenials.

I can play. What the hell, if this is America's new low, I might as well join in. I hate you guys. Well, not you personally, just your stupid, lazy, self centered, entitled, cry baby generation. I'm now realizing that everything I heard about you assholes is true. Especially the way you blame others for your problems.

GenXers and millenials are the biggest loser generations in the history of the U.S.

77   RealEstateIsBetterThanStocks   2015 Dec 2, 8:45pm  

these old farts should not be allowed to retired until the national debts are paid off.

78   MisdemeanorRebel   2015 Dec 2, 8:53pm  

Ironman says

marcus says

GenXers and millenials are the biggest loser generations in the history of the U.S.

For once, Marcus is right!


79   Dan8267   2015 Dec 2, 8:57pm  

thunderlips11 says

You mess with the bull you get the horns

CIC is about to show Marcus just how horny he is.

80   youfkngotit   2016 Apr 29, 9:24pm  

exactly what I've been saying about baby boomers for ages. They were the spoiled brat generation who were given everything by our ww2 gen grandparents, understandably perhaps after the horror they endured, but it turned their kids in spoilt little "I want, I want's" They got houses dirt cheap, jacked up the price on us, the inheritance they received they squandered, or are squandering now, they made it so fucking difficult to get jobs, the same good, well paying jobs they just walked into straight out of high school, we now need a fkn masters degree for. No, the baby boomers didn't just fuck up the economy, they fucked up the price of living, they fucked up getting jobs, they made it virtually impossible to survive because the baby boomer gen are mostly, not all, mostly, self entitled money and real estate hoarders who mostly do nothing for their own children or their generation.

82   Ceffer   2016 Apr 29, 11:23pm  

KILL THE DEAD BOOMFUCKS! DIG THEM UP, AND KILL THE BOOMFUCK GOLEMS ALL OVER AGAIN! KILL THEM ALL!

83   marcus   2016 Apr 30, 6:30am  

Just another sign that hate is destroying this country.

Why should I be surprised that a Trump supporting racist xenophobe with daddy issues also wants to generalize blame for his problems on to boomers..

It's true that boomers had it great. But that's not a reason to blame them or to hate on them. Unless mindless hate is your thing. Try to get a little more specific with your blame. Who knows, maybe you could be someone who makes a minute difference yourself. Unlike too many typical Americans that were born during any specific window of time you want to consider.

Were a larger percentage of boomers self involved and only concerned about themselves than younger generations ? Probably not. Precisely because they had it better economically. That gave more of them the freedom to take other paths. In fact, way more boomers thought that making money should not be the priority of career than those born a couple decades later.

But sure it's also true there are just a lot of them, and some are now Trump supporters with views of the world not unlike Thunderlips. It takes all kinds.

84   Indiana Jones   2016 Apr 30, 11:49am  

bgamall4 says

So, congress is Zionist, and that trumps their being boomers. Being boomers actually has nothing to do with it. Being globalists has everything to do with it.

This is not an either/or situation. You can blame the zionist all you want, it doesn't make the "me" generation any less selfish and greedy and a major part of the problem.

marcus says

In fact, way more boomers thought that making money should not be the priority of career than those born a couple decades later.

Maybe when they were teenagers. Maybe it was just the drugs talking. Boomers are the Original Yuppies and espoused "Greed is good" as they came out of their psychedelic haze into their careers.

85   Ceffer   2016 Apr 30, 1:31pm  

Millennials need a tattoo on their asses reading in supremacist gothic "I ATE A BOOMFUCK".

86   marcus   2016 May 1, 7:51am  

Indiana Jones says

Maybe when they were teenagers. Maybe it was just the drugs talking. Boomers are the Original Yuppies and espoused "Greed is good" as they came out of their psychedelic haze into their careers.

You don't get what I said. I'm not generalizing. And such generalizations are silly. Yes, boomers were the original me generation. What I'm saying is that there were a higher percentage that chose career paths that were not about money. And I'm not giving them credit for that. I'm saying it was economically possible.

But only a total idiot would blame boomers for the way the economy has changed. Its primarily a combination of 2 factors. The natural tendencies of capitalism when unchecked, and globalization. I guess add women joining the workforce as a third. I don't blame boomers as a group for any of these. But sure, the times were better for them in some ways.

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