the greediest generation

The open markets would not accept an additional $28 trillion[3]of debt borrowing in the open markets on top of Americas current deficit financing. "Bowles, Simpson to Head Debt Commission." A good dose of inflation caused by printing money (and the Federal Reserve is printing lots of money these days) can quickly wipe out much, if not all, of the real value of the official obligations. Mass, forced labor was often utilized and there were between 10 and 11 million Soviet men returning to help rebuild along with 2 million Soviet dissidents held prisoner in Stalin's Gulags. It is you and they who have bankrupted America and stolen the American dream from millions of loyal, patriotic taxpayers. I urge you to read Kotlikoffs full column, but here's a taste: Herb Stein, once the chairman of President Nixon's Council of Economic Advisors, had a saying: `Things that can't go on will stop. What he should have said was, `Things that can't go on will stop too late. When the U.S. Treasury bond bubble bursts, we could see a financial collapse that makes 2008 look tame. Climate changes all the time it cant be our fault! runs the excuses of the first. This generation experienced what is commonly referred to as the "Golden Age of Hollywood". Indeed, China may be doing so already. Returning German veterans found their country carved up into four zones of occupation; later becoming West Germany and East Germany. August, 2010.". Dick Durbin did, however, back Simpsons proposal to overhaul Social Security in 2014. Here's a response in a letter from PATTY NYE from Illinois . NOW, you and your shill commission is proposing to move the goalposts YET AGAIN 5. Surviving members of this generation would see Japan emerge as the world's second-largest economy by 1989. And while almost all the elderly now have health insurance under Medicare, about 29 percent of children had no health insurance at all at some point in the last 12 months. The author Laurence J. Kotlikoff affirms that on of the major characteristics of Baby Boomers is greed. I think she is a little ticked off! Returning veterans found their country occupied and received little support or respect. The Wall Street Journal. But the number of Gen Xers has ticked up over the last few Congresses, from 16 in the 115th to 20 in the current session. They were part of what is called "the greatest generation." My generation is, I think, is the "greediest generation." My parents, as did the parents of many of my generation, wanted a better life for their children. There is a good chance that members of Generation Q will spend their entire adult lives digging out from the deficits that we the "Greediest Generation," epitomized by George W. Bush are leaving them. They also experienced much of their youth with rapid technological innovation (e.g., radio, telephone, automobile) amidst growing levels of worldwide income inequality[9][10][11] and a soaring economy. . 17 February 2010. In the west, the Marshall Plan resulted in the "Wirtschaftswunder", an economic boom that caused 185% growth between 1950 and 1963. When that happens, count on boomers to strenuously object at the ballot box. The number of Silent Generation senators has fallen from 19 in 2017 to 11 now. Its made no such promises for most of its official Treasury bills and bonds. Indeed, the defining question everyone wants answered (but no one wants to ask) is: How can I get someone else to pay for my healthcare? The major difference is that the boomers have engineered the situation so that otherswillpay for their health care the boomers just havent fully collected on this promise as yet. We cant grow our way out of this mess. Camarillo, Alberto M. (1 October 1971). is no less economically burdensome than an I.O.U. In last weeks election the voters made it very clear that they want spending brought under control. Getting overall spending under control inevitably means spending less on Medicare and Social Security. Baby Boomers. . The story goes Durbin compared Social Security to a milk cow with 310 million teats and called senior citizens the greediest generation ever for their reliance on it. Yet, the fact remains that the boomers, as a generation, made promises that they knew (or should have known) could not be kept. "Hey Dick, let's get a few things straight!! Following the war, the Allies began the denazification and demilitarization of a post-war Germany. The commission's proposal for eliminating the nation's $13.8 trillion debt, which included components such as increasing taxes and gradually raising the retirement age for Social Security to 69 years, prompted an "unprecedented amount of flak" from opponents, to which Simpson responded by referring to modern Americans as the "greediest generation" (although he tempered his remarks by saying he felt America had more "patriots than selfish people"): "I've never had any nastier mail or [been in a] more difficult position in my life," said the 79-year-old Simpson. Adolf Hitler then rose to power, and many of this generation joined organizations such as the Hitler Youth. 2. It gives people a good idea of just how much their taxes could (instead of will) rise unless radical changes in government spending are made. The Social Security System in the United States is a ticking time bomb, underfunded, and overly generous. No one asked me blame those corrupt politicians! Both health care systems will crash and burn. The baby boomers who have controlled this country since the 1980s are a selfish, entitled generation. But a Social Security, Medicare, or Medicaid I.O.U. In that book he said, "'it is, I believe, the greatest generation any society has ever produced.'. By my estimates, the annual cost of health care, per person, by age, remains reasonably steady (with some noticeable blips, as for men at around age 40) until around age 55, at which point health care costs start going up almost exponentially. Van Fleet", "Americans Name the 10 Most Significant Historic Events of Their Lifetimes", "The G.I. When the war in Europe began, millions of British citizens joined the war effort at home and abroad. Traditionally in America, the people most likely to be poor were the elderly. As of 2019, approximately 389,000 of the 16 million Americans who served in World War II remain alive. Obviously, Shakespeare had it wrong. "Hey Dick, let's get a few things straight!! Published Apr 30, 2019 + Follow by futurist Richard Worzel, C.F.A. We are called the Sandwich Generation for a reason, because weve found ourselves serving, and in many cases, supporting our parents, our children, and even our grandchildren. We cut off other people in traffic, because we dont care whether its our turn or not, and text and phone while we drive, putting other peoples lives at risk. Now, with those hormones fading, we've popularized Viagra. The bad news is they think this can be accomplished by slashing discretionary programs. Generation term in their 1991 book Generations: The History of America's Future.[6]. [4]This doesnt include liabilities for municipal governments, for health care benefits for retirees, nor for the civil servants of the U.S. federal government. this generation, if they are not spitting mad, well, then they're just not paying attention. Even after defeat Japan would achieve unprecedented prosperity through businesses such as Sony Corporation (founded by Akio Morita) and cultural influence, as in cinema by Akira Kurosawa. Since the old, who have shorter time horizons, have larger propensities to consume than do the young, this transfer has fueled a huge increase in personal consumption, reducing our national saving rate (saving as a share of national income) from 10 to 15% in the 1950s and 60s to a negative 1.5% last year. When boomer blood raged with hormones, we staged the sexual revolution and popularized the Pill. It was politicians of that same generation who added on Medicare to burden the so-called social security trust fund while profligately plundering that same fund to provide more entitlements to that generation. The Chinese government offered to spend $100 million on building an "ornate Chinese garden" at the National Arboretum in Washington, D.C., and the project "thrilled local officials," according to a CNN report. We have lived in 3rd world countries and sacrificed plenty. We recommended the superannuation preservation age and the age pension age be adjusted in line with greater life expectancy. So please, do not visit the sins of the father upon their children. "I really believe that there are more patriots in America than selfish, selfish people," he said. by 6917sctygrp 0 September 14, 2019. Letter to D!ck Durbin D!ck Durbin, a Senator from Illinois calls senior citizens the Greediest Generation as he compared "Social Security " to a Milk Cow with 310 million teats. A public pension can be run responsibly. When bridges start falling into rivers and onto other roads, when tunnels start collapsing due to inadequate inspection and repair, and water costs start skyrocketing due to large, unseen leaks below-ground, you have no choice but the pay the piper. Yet, repeatedly, in city after city, state after state, and province after province in North America, governments have elected to defer, postpone, and avoid infrastructure investments until now, when the bills are coming due. them say they have become more conservative on economic, social, foreign policy, moral, and legal issues as they have aged. Sen. Richard Durbin says that "Social Security does not add one penny to our debt.". It used to be that each generation sacrificed so that their children would have a better life. For example, some place the beginning of the millennial generation with those . [38], The World War II generation of Japan came of age during a time of rapid imperialism. The term Generation Jones was first coined by the American cultural commentator Jonathan Pontell, who identified the cohort as those born from 1954 to 1965 in the U.S., who were children during Watergate, the oil crisis, and stagflation rather than during the 1950s, but . Were sorry, this feature is currently unavailable. And have seen a lot of consensus leaning towards the "baby boomers are the greediest generation in history" mentality and noticing that the majority of baby boomer generation can afford homes that cost half-a-million-plus homes, retirement, and other seemingly basic luxuries that most of the "middle class" see as unobtainable due to the middle . Everyones greedy when it comes to health care, not just the boomers. I guess that makes us greedy. Every year on Veterans Day, we baby boomers look around and see fewer and fewer members of the Greatest Generationour parents and grandparents who rose en mass to fight a terrible war and keep us safe. From an e-mail. 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