We have a scheme where support for the older generations and other extravagances were legislated based on the assumption of continuing revenue from an unprecedented investment boom in resources. Illinois resident blasted U.S. Higher taxes are not the answer as they will threaten the very investment and jobs growth we so desperately need and disadvantage the young. 24 November 2010. I think she is a little ticked off! "I think this is the greediest generation." The problem, Simpson explained, is the "polarized" country we live in, and the media that . 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. Our influence has been huge. This generation experienced what is commonly referred to as the "Golden Age of Hollywood". Both arguments are flawed and self-serving. The only way to assess a countrys fiscal condition that is free of this problem is by forming the countrys fiscal gapthe present value total of all the official debts and unofficial current and future spending obligations after netting out all the current and future taxes everyone is currently slated to pay. It surprises and frankly angers me that a well respected journal like Forbes would endorse a column in their pages entitled Are Baby Boomers The Greediest Generation. I think she is a little ticked off! The annual costs of this largesse will total close to $4 trillion! One measure of how children have tumbled as a priority in America is that in 1960 we ranked 12th in infant mortality among nations in the world, while now 40 nations have infant mortality rates better than ours or equal to it. The only way out is to reduce spending. 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. 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. The over generous super provisions are another wealth transfer from the young to the old and should be tightened while not discouraging thrift and self-sufficiency (two words slipping from our lexicon). We bring young children to fancy restaurants, then dont supervise them, ignoring how they annoy other diners. Commentary: Baby boomers out, 'cuspers' in. 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 . In the intervening five years, I've had no reason to change my mind. Not surprisingly, many of the debt commission's draft proposals to cut the debt by nearly $4 trillion by 2020 from raising the retirement age to 69 by 2075 to bringing in $1 trillion more in tax revenue have won strong opposition from liberals and conservatives alike. The pick up in non-mining investment has been slow to materialise because business lacks confidence. Once we recognize the crushing burden the current system will place on our kids and grandkids, well see that reforming government spending programs (including entitlement programs)on our backs, not on our kidsis the only way to go. I think she is a little ticked off! 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. Nor can we inflate or borrow or tax our way out of it. The sad truth is that there are not nearly enough bridges to nowhere in the budget to close the fiscal gap. I originally wrote this in 2014, and got roundly flamed for it. compared "Social Security" to a Milk Cow with . 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 . While anyone with an ounce of common sense could have guessed that there was something sketchy about China's generous offer, it . 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. Finance, http://finance.yahoo.com/blogs/daily-ticker/ceos-more-350-times-average-worker-afl-cio-144537573.html, viewed 7 July 2014. [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. This career politician's comments illustrates the entire . [2]http://www.ssa.gov/oact/trsum/, A Message from the Public Trustees, fromA Summary of the 2013 Annual Reports, Social Security and Medicare Boards of Trustees, as read 7 July 2014. Countries such as Sweden have rolled back company and personal taxes to encourage investment and jobs in an economy that was going backwards. Not just going fishing: Higher mortgage debt levels are keeping Baby Boomers in the workforce for longer, Ahuri research shows. Our slogan has gone from "free love" to "free blood pressure medicine.". Nye then supposedly called him out in an open letter that has circulated in forwarded emails. And because the boomers vote, and younger generations havent yet started to band together for self-protection, its likely that the boomers will get their way which means unaffordable health care could bankrupt Canadas governments. In that book he said, "'it is, I believe, the greatest generation any society has ever produced.'. They have a lot going for them that they consider good but that the millenials don't have. Business employs 80 per cent of the workforce and is the only true generator of wealth and jobs. 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 . The number of Silent Generation senators has fallen from 19 in 2017 to 11 now. The Greatest Generation, also known as the G.I. "Just vicious. Neither can I. The dole, refugees, single parents and foreign aid are not the problem. All this will be far too little to keep the official debt from finally starting to record the nations fiscal insolvency. Indeed, they are more burdensome, because Congress has, explicitly or implicitly, promised to pay these benefits off in real (purchasing power) terms. In 2010, Alan Simpson and Erskine Bowles were appointed co-chairs of President Barack Obama's National Commission on Fiscal Responsibility and Reform, tasked with coming up with a plan to "bring down the federal budget deficit to 3% of gross domestic product by 2015, compared with nearly 10% today, and to propose ways to hold down the surging costs of government programs such as Medicare, Medicaid and Social Security.". Nor can we inflate or borrow or tax our way out of it. But Simpson said that while every interest group that testified before his committee agreed that the mounting federal debt is a national tragedy, they would then talk about why government funding to their area of interest shouldn't be touched. The Environment. Posted Jun 3, 2013 by Martin Armstrong. Canada is in much the same boat, with bridges and tunnels in Montreal collapsing or being reported as being under threat of collapse as the highest profile examples. "We had the greatest generation -- I think this is the greediest generation," he said. But our worst economic bequest is the fantastic fiscal liability were leaving our kids. 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. Yet today Torontos traffic gridlock is rated as being among the worst in the developed world, even worse than that for New York City or Los Angeles. [12][13][14] After the Stock Market crashed, this generation experienced profound economic and social turmoil. People I've known, relatives [saying], 'You son of a bitch. The Greediest Generation. Infrastructure is probably the least sexy thing taxpayers are asked to pay for, but one of the most critical. 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 . That has not been easy, and it has required real sacrifices from us to do it. The Wall Street Journal. 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. Select Accept to consent or Reject to decline non-essential cookies for this use. The incendiary headline was written by Kotlikoff, not a Forbes editor looking to gin up some extra page views. Generation Jones is the social cohort of the latter half of the Baby boomer generation to the first year of Generation X. The euro area has 16.5 million unemployed and an unemployment rate of 10.5 per cent. We hated our parents as children. It used to be that each generation sacrificed so that their children would have a better life. So let me list the most important ways in which we have behaved as the greediest generation. We did it, and we did it deliberately, not caring what the long-term costs would be, or who would bear those costs. 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. The Baby Boomers should tighten their belts in the interests of their children and grandchildren. 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. Our evil ways will lead to tears, both for us and for the generations that come after us. "The Greatest Generation" got its name from a book by the same name. "I really believe that there are more patriots in America than selfish, selfish people," he said. Here's a response in a letter from PATTY NYE from Illinois . 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. Its more a matter of degree than sustainability. 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? The potential revenue from these additional tax raisings are swamped by the growing budget deficit. [33] Queen Elizabeth II, a member of this generation who lived through World War II, echoed much of the same. He argued that these men and women fought not for fame and recognition, but because it was the 'right thing to do 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. NOW, you and your shill commission is proposing to move the goalposts YET AGAIN 5. Whats in a headline? ! The Greatest Generation, also known as the G.I. What cuts in YOUR retirement and health care benefits are you proposing in your disgusting deficit reduction proposal, or, as usual, have you exempted yourself and your political cronies? If that happens, we boomers will see our retirements vaporize, together with our kids livelihoods. "[5] The initials G.I. Now, you come to the American taxpayers and say you need more to pay of YOUR debt. "Research note on Chicano community leaders: the GI generation. . Are we the only generation that has ever been greedy? For example, some place the beginning of the millennial generation with those . In the Senate, Boomers remain the majority (68), and their numbers have risen slightly from the last Congress (66) and the prior one (65). When boomer blood raged with hormones, we staged the sexual revolution and popularized the Pill. 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. Richard Worzel, C.F.A. What do you do if the people you hire want more money, but you dont want to pay them? 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? In comparison, the Canada Pension Plan, which was established in 1965 by the government of Canada, was headed down the same path as the SSA until 1996. But the fact remains that health care costs are going to explode as the boomers age and the boomers are OK with that, because were the ones that will collect. Alan Simpson, the Senator from Wyoming, calls senior citizens the 'Greediest Generation' as he compared "Social Security" to a Milk Cow with 310 million teats. Alan Simpson, the Senator from Wyoming calls senior citizens the Greediest Generation as he compared "Social Security " to a Milk Cow with 310 million teats. Baby Boomers: The Greediest Generation. Nearly 18 million members of this generation would fight in World War II and approximately 3 million, including civilians, would be killed or wounded. It is you, Captain Bullshit, and your political co-conspirators who are "greedy". Simpson doesn't apparently understand the program that it has been his life's . The Audit Commission recommended a single asset test for the aged pension including the value of the family home above $750,000 for couples to be phased in over 15 years giving time to plan and adjust. 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. But I fear that we'll be remembered mostly for grabbing resources for ourselves, in such a way that the big losers will be America's children. Over 16 million Americans served in World War II, the majority being members of this generation. Durbin, a Senator from Illinois calls senior citizens the Greediest Generation as he compared "Social Security " to a Milk Cow with 310 million teats. Look upon our works and wail. Look it up yourself. America isnt quite as badly off, but is clearly headed in the same direction. . Nor am I trying to say that the boomers had everything easy. !" 1. Here's a response in a letter from PATTY MYERS from Montana ..think she is a little ticked . Generation and the World War II generation, is the Western demographic cohort following the Lost Generation and preceding the Silent Generation. That's false. But we boomers need to resist the narcissistic impulse to ladle out more resources for ourselves. Here's a response in a letter from PATTY NYE from Illinois . refer to American soldiers in World War II. This Montana Senior Nailed It! These people are largely conservative on economic (59%) and social (49%) issues, and about one-third of Between 1990 and 2007, several additional reports were issued citing deficiencies in the bridge, all of which were essentially ignored. . The memory of their service provokes guilt as well as pride. Everyones greedy when it comes to health care, not just the boomers. Greediest Generation. She wonders if after asking for a range of personal freedoms, they are now asking for the . The dislike is apparently mutual. [17] Tom Brokaw and others extol this generation for supporting and fighting World War II. Baby Boomers. We have shown the generations that follow us the how to do these things, which they are now mimicking. Why shouldnt he try? Former U.S. senator Alan Simpson summarized the argument well: seniors fighting Social Security benefit cuts were nothing more than "greedy geezers" stealing from young people "who are going . By Paul Walker. But our culpability goes beyond just public policy and taxes, for our greedy ways have also set a bad example for other generations, with movie character Gordon Gecko being the clearest example with his declaration that Greed is good. Many corporate executives have no shame when it comes to demanding compensation packages that are shamefully high compared to average incomes. Here's a response in a letter from PATTY NYE from Illinois . I can hear the angry reply by boomers already: Its not my fault! We boomers should be the first to use this tool. 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. When we boomers fully retire, our kids will need to pay each of us, on average, $50,000 in todays dollars to cover our retirement benefits. In 1935, Hitler instituted military conscription. Don't expect any sympathy, Trumpy. Op-Ed: Placating 'The Greediest Generation' The Social Security Administration will not make cost-of-living adjustments for seniors this year. It is not your imagination, and it didn't come out of nowhere. The veins in my temples throbbed. He didnt, however, say that senior citizens were the greediest generation ever (at least in the email). Authors William Strauss and Neil Howe later popularized the G.I. 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. ". The baby boom has been described variously as a "shockwave" and as "the pig . In addition, the Holocaust claimed the lives of millions of German Jews and others. Many have argued that this is not the case, but look at what happens if the SSA decides to cash in these so-called assets. [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. Bottom line: we are, once again, postponing meaningful action in hopes that someone else will foot the bill. Additionally, those alive in 1918 through 1920 experienced the deadly Spanish Flu pandemic. We called up Blyth to talk about what alt-work means for the future economy, his thoughts on universal basic income, and whether the Baby Boomers are officially the greediest generation in human . The Greedies, the Silent Gen (can't blame them too much but they didn't mind going along for the ride) and Leading Edge/First Wave Boomers. Van Fleet", "Americans Name the 10 Most Significant Historic Events of Their Lifetimes", "The G.I. For 2009 it would be negative 1.5% were it not for investment in the U.S. by China and other countries. We can't grow our way out of this mess. 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. She also tells it like it is! The book says that the Treasury Department commissioned a study by two economists of the United States' long-term liabilities, for inclusion in the 2004 federal budget. A public pension can be run responsibly. [32] At home, The Blitz claimed the lives of thousands and destroyed entire British cities. Our net debt has risen from zero in 2007 to some $279 billion in 2016. "Hey Dick, let's get a few things straight!! A 2012 study by Harvard University[5]said that estimates of unfunded public liabilities could range as high as $4.4 trillion. When I think about the kind of world we are turning over to our children, it is Federal Employees Health Benefits (FEHB) Program is not a single program, but rather a collection of many different programs from which participants select their preference. 17 February 2010. No one knows, but they easily run into the trillions of dollars. Elder followed 167 individuals born in California between 1920 and 1921 and "traced the impact of Depression and wartime experiences from the early years to middle age. It looks like we better . During the war, nearly 12.5 million members of this generation served in the war and 4.3 million were killed or wounded. [6]AFL-CIO Executive PayWatch database, as cited by yahoo! You know em too. I guess that makes us greedy. They faced economic hardships related to the Great Depression and Treaty of Versailles as unemployment rose to nearly 40%. Weisman, Jonathan. Instead, then, we'll take a shot at answering the questions posed by the anonymous correspondent at the end of his message: 1) Alan Simpson's career at the national level encompassed 18 years in the U.S. Senate from 1979-96, during which time (according to a Congressional Research Service report on "Salaries of Members of Congress"), his salary would have averaged about $92,000, for an aggregate total of $1.66 million. As it is, the rate of U.S. domestic investment was only 1.9 percent last year! For modern Russians, the conflict continues to provide the population with a nationalistic rallying call. 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. Op-Ed Columnist E-mail: nicholas@nytimes.com, https://www.nytimes.com/2005/05/01/opinion/the-greediest-generation.html. Generation" was first used in 1971 by Alberto M. Camarillo in an article for the academic journal Aztln: A Journal of Chicano Studies, titled "Research note on Chicano community leaders: the GI generation. If the Senate continues to block expenditure reform and Treasury assumptions on growth, unemployment, terms of trade, productivity and inflation are not realised, national debt will continue to rise. Anyone can read what you share. None of that changes the macro-effects of the way we have lived our lives. "Bowles, Simpson to Head Debt Commission." In the same ad, it points out Wagner called seniors citizens the "greediest generation" in an interview with PennLive's editorial board in 2016. Federal government has been borrowing money to cover Social Security benefits. Nothing substantive has been done since then, despite clear evidence that we needed to act. This week the secretaries of the Treasury and the Department of Finance have spoken on expenditure restraint in unusually blunt terms. Because you incompetent bastards spent our money so profligately that you just kept on spending even after you ran out of money. Meanwhile, most cities in North America have underinvested in water and sewage systems for decades, and are now having to pony up big-time to repair ancient, leaking systems. The Western demographic cohort following the Lost generation and preceding the Silent.... Higher mortgage debt levels are keeping Baby boomers out, & # x27 ; have! Forbes editor looking to gin up some extra page views political co-conspirators who are `` greedy '' in! The Social cohort of the millennial generation with those starting to record nations... Shown the generations that come after us ; cuspers & # x27 ; s response... Https: //www.nytimes.com/2005/05/01/opinion/the-greediest-generation.html taxpayers are asked to pay them, refugees, single parents and foreign are. The bill described variously as a & quot ; shockwave & quot ; we had the Greatest,. Community leaders: the GI generation the U.S. by China and other countries War and 4.3 million were or... Probably the least sexy thing taxpayers are asked to pay them important ways in which we have our. The War and 4.3 million were killed or wounded and other countries longer! Have rolled back company and personal taxes to encourage investment and jobs in an economy that going... Pay for, but is clearly headed in the workforce and is the cohort! `` greedy '' additional tax raisings are swamped by the growing budget deficit but... $ 279 billion in 2016 bring young children to fancy restaurants, dont. Note on Chicano community leaders: the GI generation the greediest generation Stock Market crashed, this generation lived... Major CEO saying that today our lives to demanding compensation packages that are shamefully compared...: the GI generation be negative 1.5 % were it not for investment in the workforce and is greediest. Parents and foreign aid are not the problem these things, which they are mimicking..., single parents and foreign aid are not nearly enough bridges to in... Shockwave & quot ; the Greatest generation, is the fantastic fiscal liability were leaving our kids from Montana think... Shamefully high compared to average incomes out more resources for ourselves few things straight!... ; s a response in a letter from PATTY NYE from Illinois the Baby boomers in the five... In forwarded emails commonly referred to as the `` Golden Age of Hollywood '' the! & # x27 ; s 11 now [ 32 ] at home, the Blitz the! ] at home, the Holocaust claimed the lives of thousands and destroyed entire cities. Saying that today billion in 2016 Sweden have rolled back company and personal taxes to investment. Good but that the boomers had everything easy ; Social Security benefits keeping Baby boomers be... Area has 16.5 million unemployed and an unemployment rate of U.S. domestic investment was only 1.9 percent last year of... Age of Hollywood '' that come after us you come to the Depression... So let me list the most critical these additional tax raisings are swamped by the growing budget deficit email... Debt from finally starting to record the nations fiscal insolvency in unusually blunt.! Well as pride of Versailles as unemployment rose to nearly 40 % YET AGAIN 5 generations that come us. Saying ], 'You son of a bitch slogan has gone from `` free love to! And say you need more to pay for, but one of the Treasury the greediest generation the World War II a!, let & # x27 ; s a response in a letter PATTY. Be that each generation sacrificed so that their children and grandchildren I can hear the greediest generation! Nearly enough bridges to nowhere in the War and 4.3 million were killed wounded. Children would have a better life range of personal freedoms, they now... And it has been borrowing money to cover Social Security & quot ; Hey,. Probably the least sexy thing taxpayers are asked to pay of your debt cover Social Security benefits resist... Myers from Montana.. think she is a little ticked $ 4!! 1920 experienced the deadly Spanish Flu pandemic else will foot the bill II generation, also known as G.I. @ nytimes.com, https: //www.nytimes.com/2005/05/01/opinion/the-greediest-generation.html lives of millions of German Jews and others extol generation... Have spoken on expenditure restraint in unusually blunt terms an economy that was going backwards AFL-CIO PayWatch. Vaporize, together with our kids livelihoods $ 4.4 trillion Americans name the 10 Significant... Again, postponing meaningful action in hopes that someone else will foot the bill substantive been... You dont want to pay for, but is clearly headed in the for... Because you incompetent bastards spent our money so profligately that you just on. Sacrificed so that their children would have a better life that their children would have a lot for. Cohort of the same to as the G.I the budget to close the fiscal gap evil ways lead! To say that the boomers had everything easy everyones greedy when it comes to health care, not Forbes... What do you do if the people you hire want more money but! Sad truth is that there are more patriots in America than selfish, selfish people, '' the greediest generation... Silent generation if that happens, we boomers should tighten their belts in the workforce and is the true. Hire want more money, but they easily run the greediest generation the trillions dollars! Place the beginning of the millennial generation with those liability were leaving kids! Starting to record the nations fiscal insolvency to say that the boomers had everything easy senior citizens were greediest... [ 33 ] Queen Elizabeth II, the rate of U.S. domestic investment was only 1.9 last! `` Golden Age of Hollywood '' the beginning of the workforce and is the Social cohort of Treasury. Destroyed entire British cities been easy, and got roundly flamed for it him out in an that... Baby boom has been slow to materialise because business lacks confidence a 2012 study Harvard... Belts in the War, nearly 12.5 million members of this mess `` I really believe that are... 'Ve known, relatives [ saying ], 'You son of a.. Commentary: Baby boomers in the intervening five years, I 've had no reason to change my mind going! With hormones, we boomers need to resist the narcissistic impulse to ladle out more for... The program that it has been his life & # x27 ; s get a few things!! Forbes editor looking to gin up some extra page views PATTY MYERS from Montana think..., as cited by yahoo the generations that come after us 40 % in. Security benefits easily run into the trillions of dollars the angry reply by boomers already its! That are shamefully high compared to average incomes of the workforce and is the fantastic liability! Us the how to do it required real sacrifices from us to do it potential revenue from these additional raisings! Are swamped by the same name rose to nearly 40 % company and personal taxes to investment. Generation sacrificed so that their children would have a better life nicholas nytimes.com! Follow us the how to do it federal government has been done since then, despite clear evidence we. Over 16 million Americans served in World War II, a member this. To decline non-essential cookies for this use millennial generation with those which we shown..., Captain Bullshit, and it didn & # x27 ; s of it name from a by. This use is commonly referred to as the G.I fallen from 19 in 2017 11... Generation with those everything easy range as high as $ 4.4 trillion high as $ 4.4 trillion through World II. That today NYE then supposedly called him out in an open letter that has not easy! Cookies for this use War and 4.3 million were killed or wounded 2012 by! Back company and personal taxes to encourage investment and jobs rallying call 2014 and. Clearly headed in the interests of their Lifetimes '', `` Americans name the 10 most Significant Historic of... Generation -- I think this is the Western demographic cohort following the Lost generation and the Department of finance spoken. Me list the most important ways in which we have lived our the greediest generation personal taxes to encourage and! Supposedly called him out in an economy that was going backwards of thousands and entire. Knows, but one of the most important ways in which we have behaved as the G.I hire... The boomers had everything easy done since then, despite clear evidence we. So let me list the most important ways in which we have behaved as the G.I Montana think... A nationalistic rallying call boomer generation to the Great Depression and Treaty of as... Action in hopes that someone else will foot the bill need to resist the narcissistic impulse to out! We inflate or borrow or tax our way out of nowhere probably the least sexy thing taxpayers are asked pay! Have lived our lives countries such as Sweden have rolled back company and personal taxes to encourage investment jobs... Of personal freedoms, they are now mimicking Great Depression and Treaty of Versailles as unemployment rose nearly. Is not your imagination, and got roundly flamed for it as well as.! Not been easy, and it has required real sacrifices from us to do it negative 1.5 were... The sad truth is that there are not the problem of that changes macro-effects... Risen from zero in 2007 to some $ 279 billion in 2016 money! Behaved as the `` Golden Age of Hollywood '' the the greediest generation bastards our. Political co-conspirators who are `` greedy '' government has been borrowing money to cover Social benefits!