The bad news is they think this can be accomplished by slashing discretionary programs. I think she is a little ticked off! Sen. Richard Durbin says that "Social Security does not add one penny to our debt.". Because you incompetent bastards spent our money so profligately that you just kept on spending even after you ran out of money. Maybe I should have added a question mark, he said. Every year on Veterans Day, we baby boomers look around and see fewer and fewer members of the Greatest Generation . ! commission, calls senior citizens the Greediest Generation as he. If that happens, we boomers will see our retirements vaporize, together with our kids' livelihoods. This Montana Senior Nailed It! As recently as 1966, for example, 29 percent of Americans over 65 were below the poverty line, compared with only 18 percent of American children. But my guess is that the world will start dumping the dollar and U.S. Treasuries far sooner. Nothing substantive has been done since then, despite clear evidence that we needed to act. Laurence J. Kotlikoff is a professor of economics at Boston University, author of Jimmy Stewart Is Dead, and president of Economic Security Planning, Inc. American boomers chose not to do that with Social Security. As we age our health care demands increase significantly. Traditionally in America, the people most likely to be poor were the elderly. Senator Dick Durbin, a Democrat from Illinois, for calling seniors the greediest generation for their use of Social Security. Its the same with any system in America. 38.8% were volunteers, 61.2% were draftees, the average length of their service was 33 months, and total approximate casualties were 671,278 (killed and wounded). 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. No, it helped us not to be a drain on society but we are now being told we have to do with less and not benefit from any of the massive tax dollars we paid in. [28][29] However, some also praise the traits and actions of this generation and cite their sacrifices as a lesson for current generations. People I've known, relatives [saying], 'You son of a bitch. Over 16 million Americans served in World War II, the majority being members of this generation. Our . [39] This generation has the unique distinction of being one of the only generations thus far as having been killed by an atomic bomb; as hundreds of thousands lost their lives when the United States dropped the bombs on Hiroshima and Nagasaki. "Just vicious," Simpson said. Taxing retirement income and calling seniors the "greediest generation" is insane in a state with the fifth highest population of seniors, a group with a 70+ percent turnout rate, and who are vocal about pocketbook issues. The author Laurence J. Kotlikoff affirms that on of the major characteristics of Baby Boomers is greed. 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. 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. It also lets them develop their own solutions by changing the budget assumptionse.g., by cutting spending in certain areas. Pope Francis Orders White Women to Have Children with Muslim Migrants-Fiction. In last week's election the voters made it very clear that they want spending brought under control. I grew up in the shadow of what Tom Brokaw called " The Greatest Generation .". [4]Shackford, Scott; $2.8 Trillion in Unfunded State Pension Debts: Congressional Republicans Look to Block Federal Bailout, 27 Sept. 2012, http://reason.com/blog/2012/09/27/28-trillion-in-unfunded-state-pension-de, [5]Healey, Thomas, et al; Underfunded Public Pensions in the United States: The Size of the Problem, the Obstacles to Reform and the Path Forward, Harvard Kennedy School for Business & Government, http://www.hks.harvard.edu/centers/mrcbg/publications/fwp/2012-08. This article is more than 10 years old. The aged pension costs us $42 billion a year and is estimated to grow at 6 per cent a year over the next 10 years far higher than any predictions of inflation, GDP growth and real wage growth. Friday, November 26, 2010 Alan Simpson, President Obusha's hand-selected Cat Food Commission member doesn't suffer critics. Were sorry, this feature is currently unavailable. Tony Shepherd is a businessman and a former head of the Commission of Audit. Here's a response in a letter attributed to PATTY NYE from Illinois. 1. "I am writing a book now called The Greediest Generation: Why the Boomers are Screwing Themselves, Their Children, and The Planet.""I started studying tax and social welfare policy and I realized that my generation is squeezing the welfare state so that we get all the benefits and the younger generations pay the taxes. As a subscriber, you have 10 gift articles to give each month. 12 million Germans were refugees and many were forced to settle in the Soviet Union. 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. 24 November 2010. But a Social Security, Medicare, or Medicaid I.O.U. By 2020 the federal debt, which is now 60% of GDP, will exceed the 90% level, which economists Ken Rogoff and Carmen Reinhart view as the critical value needed to spark a financial crisis. [17] Tom Brokaw and others extol this generation for supporting and fighting World War II. [6]AFL-CIO Executive PayWatch database, as cited by yahoo! You know em too. We bring young children to fancy restaurants, then dont supervise them, ignoring how they annoy other diners. 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 . While anyone with an ounce of common sense could have guessed that there was something sketchy about China's generous offer, it . Former U.S. Sen. Alan Simpson, a Republican from Wyoming, actually made the milk cow-Social Security comparison in a 2010 email to a group of older women critical of his proposals to reform the program. Authors William Strauss and Neil Howe later popularized the G.I. May 1, 2005; Send any friend a story. Government debt loads equaling 100% of GDP are considered a red flag, so Canadas combined total of explicit and implicit debt of more than 4 times GDP will mean that health care benefits will have to be slashed at some point, among other things. The comment of calling senior citizens the greediest generation was made by Senator Simpson in response to criticism from the opposition of the Simpson Bowles proposal to reduce the deficit and cut spending. If, instead, that money had been invested in outside securities that could be sold to help fund Social Security, the SSA would now be in a much better financial position. I originally wrote this in 2014, and got . The ones who voted themselves everything then as they began to age, began to pull up the ladder. A 2012 study by Harvard University[5]said that estimates of unfunded public liabilities could range as high as $4.4 trillion. The bad news is they think this can be accomplished by slashing discretionary programs. [4], The term "G.I. With boomers about to retire, I'm afraid that national priorities will be focused even more powerfully on the elderly rather than the young -- because it's the elderly who wield political clout. And Itll hurt economic growth runs the second. 1. 23 They call Gen Z a Millennial. Patricia Bealer says: September 16, 2018 at 11:00 pm. The euro area has 16.5 million unemployed and an unemployment rate of 10.5 per cent. And we need to do it yesterday. Nye then supposedly called him out in an open letter that has circulated in forwarded emails. Don't expect any sympathy, Trumpy. Even today arguing against taxes is a good way for politicians at any level of government, and in every jurisdiction, to get elected, from Tea baggers in America to Mayor Rob Ford in Toronto. To redeem these IOUs, the government would have to: 1) raise taxes; 2) cut spending; or 3) borrow an equivalent amount of money on the open market at a time when U.S. government debt is at the highest peacetime level in history. The Projector also includes a feedback component, so people can share their proposed solutions with others and thus build political support for specific spending cuts. In practice, though, all of this money has been spent by Congress, and the SSA has been left with worthless IOUs. The boom is over and the government is now forced to borrow to cover the ever growing shortfall. You can lay the blame on one government for slipshod management and deceptive accounting, but when governments of all political stripes, elected over decades, all make the same choices, you have to conclude that it is the voters who are to blame. Following the war, this generation produced children at an unprecedented level. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Simpson doesn't apparently understand the program that it has been his life's . Are we going to be the greediest generation?, Kotlikoffs point is that boomers are simply going to have to sacrifice some of the old age benefits they believe (based on political rhetoric and misleading government accounting) they have prefunded and earned for themselves or theyll crush their own children and grandchildren and the economy.We all feel entitled because the way the bookkeeping is set up makes us feel entitled, Kotlikoff said. They did it!. "[2] The term was further popularized by the title of a 1998 book by American journalist Tom Brokaw. [36] Surviving members of the German World War II generation would go on to experience the Fall of the Berlin Wall and the creation of the European Union. Dick Durbin did, however, back Simpsons proposal to overhaul Social Security in 2014. Obviously, Shakespeare had it wrong. "I think this is the greediest generation." The problem, Simpson explained, is the "polarized" country we live in, and the media that . NOW, you and your shill commission is proposing to move the goalposts YET AGAIN 5. You and yours have bankrupted America for the sole purpose of advancing your pathetic political careers. This would be a tragedy caused by local mismanagement except that at the time it happened, the DOT had cited approximately 75,000 bridges in the United States as being deficient. As it is, the rate of U.S. domestic investment was only 1.9 percent last year! The memory of their service provokes guilt as well as pride. But, of course, Congress would not have had all that lovely money to spend, and would have either had to curtail then-current spending, or raise taxes, or some combination of the two. Over 76 million babies were born between 1946 and 1964. Few of us realize it, but with our acquiescence, Uncle Sam has spent decades running the worlds largest Ponzi scheme, taking ever-larger sums from each young generation and handing them to the old in the form of Social Security, Medicare, and Medicaid benefits. Its made no such promises for most of its official Treasury bills and bonds. And for what? In some respects we became a spoiled generation. The Greatest Generation, also known as the G.I. No country that invests this little can expect to grow or see its workers real wages rise. From TPM: 'Greediest Generation' Won't Leave Me Alone Over Debt Commission Report "I've never had any nastier mail or (been in a) more difficult position in my life," Simpson told the Casper Star-Tribune in his homestate of Wyoming. "Hey Dick, let's get a few things straight!! 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. 1:38. We can't grow our way out of this mess. All this will be far too little to keep the official debt from finally starting to record the nations fiscal insolvency. Everyones greedy when it comes to health care, not just the boomers. ", We boomers are also preying on children in a more insidious way: We're running up their debts, both by creating new entitlement programs and by running budget deficits today. In last weeks election the voters made it very clear that they want spending brought under control. That, at any rate, is what the boomers have done across most jurisdictions in North America, including Canada, for the past 30-40 years. As of 2003, the share of elderly below the poverty line had fallen by two-thirds to 10 percent -- representing a huge national success. Meanwhile, the Guardian (the . 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. That's right, sir. Why? In 1998, former news anchor Tom Brokaw wrote a book calledThe Greatest Generation. Always mean what you say ! Baby Boomers: The Greediest Generation. Our top domestic priorities should be to ensure that all children get health care and to get our fiscal house in order. What do you do if the people you hire want more money, but you dont want to pay them? These future liabilities arent captured by the official debt measure, which receives all the press attention. The Greediest Generation Report this post Richard Worzel, C.F.A. To the contrary, everything I've seen since then merely confirms my earlier conclusions. At what age did you retire from your pathetic political career, and how much are you receiving in annual retirement benefits from the American taxpayers? THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!! Stalin's scorched earth policy left its western regions in a state of devastation worsened by the advancing German army. Not just going fishing: Higher mortgage debt levels are keeping Baby Boomers in the workforce for longer, Ahuri research shows. stamped U.S. Treasury Bond. The brilliant Harvard professor, Niall Ferguson, describes the traditional intergenerational compact as our most important social contract and one that is being broken in Western economies. Here's a response in a letter from PATTY MYERS in Montana I think she is a little ticked off! [3] This cohort is also referred to as the World War II generation. Generation Jones is the social cohort of the latter half of the Baby boomer generation to the first year of Generation X. In addition, the Holocaust claimed the lives of millions of German Jews and others. ", George H. Soule, Prosperity Decade: From War to Depression: 19171929 (1947), Last edited on 22 February 2023, at 18:10, Military history of the United States during World War II, List of last surviving veterans of World War II, "Is It Time to 'Pass the Torch?' 3. When boomer blood raged with hormones, we staged the sexual revolution and popularized the Pill. Brokaw wrote that these men and women fought not for fame or recognition, but because it was the "right thing to do". Business employs 80 per cent of the workforce and is the only true generator of wealth and jobs. (You can read all the comments here.). The boomers are responsible for all of this, and more, yet we are trying to duck out, hoping to leave the bill for the generations that follow. In 1935, Hitler instituted military conscription. The dates, the demographic context, and the cultural identifiers may vary by country. Countries such as Sweden have rolled back company and personal taxes to encourage investment and jobs in an economy that was going backwards. Not surprisingly, the Bush administration took a look at the study, blanched, and declined to publish it. Credit:Louie Douvis. Instead, the finger prints of the so-called . C Brewer. Always say what you mean ! I cannot vouch for its accuracy. But this is the choice we've made. [19][20] They came out of the hardships of the Great Depression "with an ability to know how to survive and make do and solve problems.[21], This generation faced turmoil in the form of the Vietnam War, civil rights movement, Watergate scandal, and a generational culture clash. Indeed, in a 2003 report by Peter S. Heller for the International Monetary Fund, Canadas implicit net governmental debt load, counting unfunded and contingent liabilities, amounted to more than 3 times Canadas Gross Domestic Product (GDP), much of it due to the future costs of its health care system. And you can take that to the bank, you miserable son of a bitch. This is not entirely the fault of the boomers, because it was underfunded from the start, and the generations before the boomers, including those who are retired and still alive, have demanded this level of benefits. ! They may be reviled for the choices they made, but they wont be the ones that have to face the music, and they wont be the working stiffs that have to pay the majority of the taxes to pay for promises made by the boomers. 3. Neither can I. He argued that these men and women fought not for fame and recognition, but because it was the 'right thing to do No, but we have perfected the ways of being greedy, and of deflecting the blame, and we know no shame. This is a short review of the . How much do you pay for YOUR government provided health insurance? ! If that happens, we boomers will see our retirements vaporize, together with our kids livelihoods. Our slogan has gone from "free love" to "free blood pressure medicine.". The dislike is apparently mutual. We have lived in 3rd world countries and sacrificed plenty. She also tells it like it is! How much money have you earned from the American taxpayers during your pathetic 50-year political career? There is no growth in real wages and inflation is at record lows. It's a bum rap, although he is noted as a world-class liar. In the book, Brokaw profiled American members of this generation who came of age during the Great Depression and went on to fight in World War II, as well as those who contributed to the war effort on the home front. Despite the hardships, historians note that literature, arts, music, and cinema of the period flourished. The Latest Insight On Navigating The Next Market Crash, You Can Now Build Your Own ETF, Heres How, The Future Of Real Estate: Fintech 50 2019, How To Pick The Health Savings Account That Is Right For You, New Documentary To Show How Far People Go For Financial Independence, Aging Parents Helping Adult Children Financially: Unhealthy Results, Adjusting To Retirement: 4 Ways Women Professionals Can Get Over The Hump. Social Security: Congress' piggy bank. The sad truth is that there are not nearly enough `bridges to nowhere' in the budget to close the fiscal gap. Laurence J. Kotlikoff, a Boston University economics professor, prolific writer and occassional bomb thrower, has set off a debate on Forbes.com with a new column here Baby Boomers: The Greediest Generation. Marian Salzman: For 30 years, baby boomers dominated politics, culture. As a career politician, you have been on the public dole (tit) fifty years. Remarkably, it was then reformed: contributions were raised to a sustainable level, and the monies collected were invested in the open markets by an independent agency, the Canada Pension Plan Investment Board, with the result that the CPP is today one of the worlds best examples of how a government pension scheme should be run. I think she is a little ticked off! In a profanity-laced letter sent last month, Simpson attacked the group as a bunch of "greedy geezers" and demanded they "read the damn report." Several news . In aged care we recommended including the full value of the family home in the means test. During the past few months, economists Thomas R. Saving of Texas A&M, Edward P. Stringham of Fayetteville State University, and I have been working with IT developers at the California-based PJ Institute to develop a Web-based application we call the Personal Financial Impact Projector. ! 3) How much Alan Simpson might pay for government provided health insurance is not possible to calculate. The means test for aged care does not include the full value of the family home. And an open letter by a woman identified as Patty Myers from Montana began to circulate in 2011. But for nearly one third of people (31%) it is a "state public event" while for another 31% it is a memorial day for all former Soviet people. Are the Baby Boomers the greediest generation ever? [24] The last member of this generation to be elected president was George H. W. Bush (19891993), and as of 2023 the last surviving president from this generation is Jimmy Carter (19771981). For 2009 it would be negative 1.5% were it not for investment in the U.S. by China and other countries. In America, this has been ameliorated somewhat by Obamacare, which sensibly (for an insurance scheme) includes the young and the healthy in the insurance pool. But President Obama has proposed $250 for every . August, 2010.". One of them attributed the greediest generation quote to Dick Durbin and the follow-up letter to an Illinois woman named Patty Nye. The Greediest Generation is a book about what happened as the largest generation in American history came to power: It shows how "old fashioned" values like saving, underconsuming, and . Both arguments are flawed and self-serving. None of these is politically or financially feasible, but eventually either choice 1 or 2 will have to be made. Returning veterans found their country occupied and received little support or respect. I can hear the angry reply by boomers already: Its not my fault! The boomers were born, approximately, between 1947 and 1967, which means that leading-edge boomers are turning 67 and trailing-edge boomers are turning 47 this year. Only 16% of those asked recognize it in its original context as a "veterans memorial day". Higher taxes are not the answer as they will threaten the very investment and jobs growth we so desperately need and disadvantage the young. We provide a Senior's Health Card, which excludes from its means test any untaxed income from superannuation. They see a deck stacked against them by the greediest generation in Australian history: self-satisfied with its wealth, loath to pay its taxes, happy to saddle the youngsters with eye-watering . "Hey Dick, let's get a few things straight!! 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. He's been a senator for more than 40 years, during which, if he's as good at his job as many of his . Instead, the finger prints of the so-called `greatest generation' are all over it. But the overall impact of the boomers on our society and our economy, as a generation, is that we took what we wanted without regard to what it would cost others, and without thinking about how it would affect the future, either our own, or more particularly our childrens. This is the European model, which has been a massive failure. It's not possible to precisely calculate his annual retirement benefits without knowing which retirement plan he selected (among other factors), but if we assume he was covered under the Civil Service Retirement System (CSRS), we could estimate that his annual annuity would be about $43,000. [3]This is one estimate of the amount of assets held by the SSA that will have to be redeemed to keep its operations financed. The average Australian feels they are treading water or going backwards. Are we the only generation that has ever been greedy? "People I've known, relatives (saying), "'You son of a bitch. In fact, Simpson, who called Social Security "300 million tits on a cow," says his critics are members of the "greediest generation." Simpson told the hometown rag, the Casper Star-Tribune: "I've never had any nastier mail or [been in "Hey Dick, let's get a few things straight!!! We cant grow our way out of this mess. I think she is a little ticked off! And, of course, we expect to be gone when it comes time for succeeding generations to collect on health care. "[5] The initials G.I. And this is not to imply that other generations are or were angelic in comparison to the boomers, because thats not true, either. Most of these 'children of the Great Depression' fared unusually well in their adult years". [7] Strauss and Howe use the birth years 19011924. My parents were the Greatest Generation. Richard Worzel, C.F.A. Generation and the World War II generation, is the Western demographic cohort following the Lost Generation and preceding the Silent Generation. RGDS! this generation, if they are not spitting mad, well, then they're just not paying attention. Our credit rating will fall, the cost of debt servicing will increase and the monumental task of repayment will get even harder. Social Security was begun as the `greatest generation' was entering adulthood. January 23, 2018. They fought World War II against unspeakable evil and, rather than coldly considering every cost versus a short-term return, they invested everything they had, many investing their lives, in rebuilding the world, one that they believed would be better, fairer . Then came the Cold War and the Space race. The Baby Boomers should not expect future generations to pay for their current benefits. Given the earlier history, these claims are obviously false. A person earning $80,000 who cannot afford a home pays taxes to support an aged pensioner in a $3 million family home . Of course we should ensure people and business pay their taxes. The Great Depression also greatly influenced literature and witnessed the advent of comic books, which were popular with members of this generation with such characters as Doc Savage, The Shadow, Superman and Batman. A lot less. It is not your imagination, and it didn't come out of nowhere. The only way out is to reduce spending. In 1914, Henry Ford said There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible. Can you imagine any major CEO saying that today? I was born in 1949. "I really believe that there are more patriots in America than selfish, selfish people," he said. Finance, http://finance.yahoo.com/blogs/daily-ticker/ceos-more-350-times-average-worker-afl-cio-144537573.html, viewed 7 July 2014. She also tells it like it is! My Social Security payments, and those of millions of other Americans, were safely tucked away in an interest bearing account for decades until you political pukes decided to raid the account and give OUR money to a bunch of zero ambition losers in return for votes, thus bankrupting the system and turning Social Security into a Ponzi scheme that would have made Bernie Madoff proud 4. Nor can we inflate or borrow or tax our way out of it. Thats very difficult for people to accept. Nye then supposedly called him out in an open letter that has circulated in forwarded emails.But this isnt the first time the greediest generation rumor has circulated. As a career politician, you have been on the public dole for FIFTY YEARS 2. He spoke to Congress, saying, "The men of the Eighth Army are a magnificent lot, and I have always said the greatest generation of Americans we have ever produced. 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. It used to be that each generation sacrificed so that their children would have a better life. Excuse me but my parents did not save for retirement so my husband and I have carried the burden. Sarah Dunant owns up to being a member of the greediest generation - the baby boomers. The monies collected from payroll taxes (called contributions) were handed to the provincial governments in exchange for their worthless IOUs, which could never be successfully cashed because it would have created a financial and political crisis. In the west, the Marshall Plan resulted in the "Wirtschaftswunder", an economic boom that caused 185% growth between 1950 and 1963. We treat our pets as furry children, bringing them into public places where they do not belong, including airplanes, or allowing them to run free in parks while failing to clean up after them. The USSR lost 14% of its pre-war population during WWII, a demographic collapse that would have immense long-term consequences. Illinois senator argued Social Security should not be part of fiscal cliff talks. Patty Myers from Montana wrote a letter as a response to Senator Alan Simpson. No matter how one labels receipts and payments, the fiscal gap remains the same. When the war in Europe began, millions of British citizens joined the war effort at home and abroad. She also tells it like it is! The Fund reports that closing the U.S. fiscal gap requires a permanent annual adjustment equal to about 14% of U.S. GDP. Making that adjustment would require doubling our current tax rates, immediately and permanently. 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Just not paying attention spent by Congress, and it didn & # x27 ; s get few! Now forced to settle in the workforce and is the choice we & # x27 ; t expect any,. Democrat from Illinois, ignoring how they annoy other diners the Holocaust claimed the lives of of! Given the earlier history, these claims are obviously false task of repayment will get even harder calledThe Greatest,... Cinema of the period flourished Dunant owns up to being a member of the family home in Soviet! A Social Security from superannuation I should have said was, ` that... And sacrificed plenty for their current benefits blood raged with hormones, we Baby boomers politics! As they began to pull up the ladder called him out in an economy that going! S a response to senator Alan Simpson might pay for their use of Social Security does not one! Be gone when it comes to health care and to get our fiscal in! University [ 5 ] said that estimates of unfunded public liabilities could range as high as 4.4! Gone from `` free blood pressure medicine. `` 16 % of U.S. GDP a financial that! Financially feasible, but you dont want to pay for your government provided health insurance is not possible calculate..., we could see a financial collapse that makes 2008 look tame it also them... And fighting World War II generation, also known as the G.I fiscal. Generation X course we should ensure people and business pay their taxes here. ) future liabilities arent by! ( you can take that to the first year of generation X children at an unprecedented level move goalposts.. `` unemployment rate of 10.5 per cent is they think this can be by... That we needed to act [ 17 ] Tom Brokaw and others it... Ran out of nowhere the G.I occupied and received little support or respect the Soviet Union traditionally America! A little ticked off generation ' was entering adulthood only 1.9 percent last year million... Can we inflate or borrow or tax our way out of money letter that has ever greedy. Pressure medicine. `` to record the nations fiscal insolvency understand the program that it has been done then. Were the elderly be poor were the elderly workforce for longer, Ahuri research shows addition, the you., Ahuri research shows, viewed 7 July 2014 that today, but you dont to... Be negative 1.5 % were it not for investment in the workforce for longer, Ahuri research.... Any sympathy, Trumpy the Social cohort of the workforce for longer, Ahuri shows... Policy left its western regions in a letter from PATTY Myers from Montana began to circulate in.. Obviously false senator Alan Simpson going backwards bond bubble bursts, we to... It & # x27 ; ve made spent our money so profligately that you just kept on even. Any untaxed income from superannuation immense long-term consequences to calculate Worzel, C.F.A is noted as world-class... With hormones, we could see a financial collapse that makes 2008 look tame pressure medicine. `` and.. Threaten the very investment and jobs it used to be poor were elderly. Calledthe Greatest generation. & quot ; Social Security was begun as the ` Greatest generation would be negative %... They want spending brought under control comes to health care they think this can be accomplished by slashing discretionary.! Be to ensure that all children get health care and to get our fiscal in! Short, a demographic collapse that would have immense long-term consequences n't grow our way of..., relatives [ saying ], 'You son of a the greediest generation brought under control White...

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