Today's column: Ruining our children and grandchildren
The biggest U.S. financial crisis isn't the housing crunch. It's the government debt bomb being planted by baby boomers to explode in the faces of their children and grandchildren
But presidential candidates and their media interlocutors (both groups largely populated by boomers) have said almost nothing about it. The country is headed toward terrible inflation, huge taxes and economic decline? Pfft. Let's talk about flag pins.
So it's up to you, young people. The only hope is that you realize how badly you're getting ripped off and decide to do something about it. Two new dispatches - a book and a movie, both with Baltimore connections - are your manifestoes.
Read the rest of it here.
Comments
Absolutely right. The debt was not planned for...
The system cannot afford to support the coming wave into retirement.
Boomers need to pay attention to their savings and future personal cash flow....
http://pacificgatepost.blogspot.com/2008/04/baby-boomers-make-no-assumptions.html
Posted by: PacificGatePost | May 1, 2008 1:44 AM
So how does that make the U.S. any different from any other empire in world history? They all fall sooner or later... We've been hollow for some time. Falling wages, rising prices, crushing debt, ridiculous trade deficits, no manufacturing base. Someone's going to suffer. Of course, our leadership is setting a sterling example of self-sacrifice, right?
So what's worse, giving up some of our vaunted "American lifestyle" or being hated by the youngsters?
Posted by: David | May 2, 2008 6:21 PM