The next crisis: Sponging boomers | The Economist
The next crisis: Sponging boomers | The Economist:
The math is ugly. This is a great article that summarized some really big key issues that arise from the generational move of the Boomers into retirement. BoomAge could be the syndrome.
Those age 65 or older are expected to consume about $333B more in benefits/services than they paid in taxes. No worries, let’s let our kids and grandkids take care of that bill.
And the bad thing about doing nothing (gridlock and more) is that it simply delays the solution and compounds the impact.
Some really cool (ugly really, but interesting) stats are the impact that inflation has had on the US national debt. The young, with debt, benefit from inflation. Older, with savings, get hit. The voting and politically active retirees will increase by almost 10% to 26% of the voters and will have time to push for services, benefits and low inflation.
Social Irresponsibility: Debt, Population, Inflation, Politics, gridlock, Boomers, Boomage
