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April 30, 2008

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.

Posted by Jay Hancock at 10:37 AM | | Comments (2)
        

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

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?

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Wednesdays and Fridays.
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