the greediest generation
March 15, 2023 4:07 am | by | Posted in why did the cube in albuquerque close
Our evil ways will lead to tears, both for us and for the generations that come after us. Credit:Louie Douvis. [1] They were shaped by the Great Depression and were the primary generation composing the enlisted forces in World War II. Alan Simpson, Senator from Wyoming , Co-Chair of Obama's deficit. Commentary: Baby boomers out, 'cuspers' in. He also tells it like it is ! 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. [40] Surviving veterans visit the Yasukuni Shrine to pay tribute to their fallen comrades.[41]. Enjoy it while it lasts my friends. The veins in my temples throbbed. ! "Hey Dick, let's get a few things straight!! The city of Toronto had, in the 1960s, a rapid transit system that regularly won awards for being the best in North America. 3) How much Alan Simpson might pay for government provided health insurance is not possible to calculate. She also tells it like it is! Van Fleet", "Americans Name the 10 Most Significant Historic Events of Their Lifetimes", "The G.I. 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. His book, The Coming Generational Storm (written with Scott Burns), was published back in 2004. But we are not ashamed of ourselves, which speaks volumes for just how steeped in bad behavior we have become. The USSR lost 14% of its pre-war population during WWII, a demographic collapse that would have immense long-term consequences. Published Apr 30, 2019 + Follow by futurist Richard Worzel, C.F.A. Dick Durbin, a Senator from Illinois calls senior citizens the Greediest Generation as he compared "Social Security " to a Milk Cow with 310 million teats. 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 Social Security mess was created by the Greatest Generation and the Boomers were left holding the empty bag.. But showing them exactly how much they will have to pay in taxes to support the status quo might change their attitude. 43 years ago, I made enough money on silver and gold minicontracts to afford a getaway A-frame in the woods AND to pay for my ex-wife's law school . Wagner, a likely 2018 candidate for governor . The majority of politicians opposed to action on climate change are baby boomers, and it will be the millennial generation who will bear the cost of this inactivity. And have seen a lot of consensus leaning towards the "baby boomers are the greediest generation in history" mentality and noticing that the majority of baby boomer generation can afford homes that cost half-a-million-plus homes, retirement, and other seemingly basic luxuries that most of the "middle class" see as unobtainable due to the middle . Somehow, I think that the fear of Puffin's censors was that Dahl's books might be too relevant, rather than too little. I, and millions of other Americans, have been paying into Medicare from Day One, and now you morons propose to change the rules of the game. So please, do not visit the sins of the father upon their children. Friday, November 26, 2010 Alan Simpson, President Obusha's hand-selected Cat Food Commission member doesn't suffer critics. [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. 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. This generation experienced what is commonly referred to as the "Golden Age of Hollywood". Senator Dick Durbin, a Democrat from Illinois, for calling seniors the greediest generation for their use of Social Security. Instead, we have sacrificed our children and their children so that we can have a better life. We recommended that the benchmark for the aged pension be tied to average weekly earnings again with the adjustment being phased in over 15 years. 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. Next to jazz, blues, gospel music, and folk music; swing jazz became immensely popular with members of this generation. Always say what you mean ! It's a bum rap, although he is noted as a world-class liar. Whats in a headline? Over 16 million Americans served in World War II, the majority being members of this generation. Poor Broder. Weve reached a point now where its like a milk cow with 310 million tits! Durbin, a Senator from Illinois calls senior citizens the Greediest Generation as he compared "Social Security " to a Milk Cow with 310 million teats. Why shouldnt he try? [8] The first half of the generation, born between 1901 and 1914, are sometimes referred to as the Interbellum Generation. "I really believe that there are more patriots in America than selfish, selfish people," he said. We bring young children to fancy restaurants, then dont supervise them, ignoring how they annoy other diners. In so doing, Sam has told each set of young people, Not to worry, Ill more than take care of you when youre old.. As a career politician, you have been on the public dole (tit) fifty years. 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). You know em too. 3. Returning veterans found their country occupied and received little support or respect. This week the secretaries of the Treasury and the Department of Finance have spoken on expenditure restraint in unusually blunt terms. "People I've known, relatives (saying), "'You son of a bitch. Until you understand what many have been through, may I suggest you stop referring to us boomers as greedy. The Greatest Generation, also known as the G.I. My assertion will infuriate many boomers, and I will undoubtedly get nasty messages from people who will cite all the wonderful, selfless things that they or we have done, or how we had no choice but to do what we did. Canadas will do so sooner, and more spectacularly. 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. We have lived in 3rd world countries and sacrificed plenty. Social Security: Congress' piggy bank. Blurry dividing lines. According to a 2004 study done by AARP, "There are 26 million people aged 77 or older in the United States. 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 . Its made no such promises for most of its official Treasury bills and bonds. We suggested that the superannuation tax concessions be tightened because they did not appear to be working to encourage more people to be self-funded. They will not thank us for it. 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. [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. They endured the Holodomor famine, which killed millions. As we age our health care demands increase significantly. In some respects we became a spoiled generation. 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. The fact that the deficit commission is focused on federal deficits and not the long-term fiscal gap is indicative of how much damage the economic labeling problem is causing. ", I chatted today with Kotlikoff (a boomer himself) about the reaction. 43 years later and they are still underwater. The potential revenue from these additional tax raisings are swamped by the growing budget deficit. I originally wrote this in 2014, and got roundly flamed for it. She wonders if after asking for a range of personal freedoms, they are now asking for the . Durbin said Social Security . Pope Francis Orders White Women to Have Children with Muslim Migrants-Fiction. I grew up in the shadow of what Tom Brokaw called " The Greatest Generation .". [15] The popularity of the radio also became a major influence in the lives of this generation, as millions tuned in to listen to President Franklin D. Roosevelt's "fireside chats" and absorbed news in a way like never before.[16]. You can update your choices at any time in your settings. In aged care we recommended including the full value of the family home in the means test. 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. 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. 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. "Research note on Chicano community leaders: the GI generation. "We had the greatest generation," Simpson said. The Greatest Generation, also known as the G.I. Our . Dick Durbin, a Senator from Illinois calls senior citizens "the Greediest Generation" as he compared "Social Security" to a Milk Cow with 310 million teats. 1. Meanwhile, the Guardian (the . The baby boom has been described variously as a "shockwave" and as "the pig . by senior futurist Richard Worzel, C.F.A. When I think about the kind of world we are turning over to our children, it is August, 2010.". The same is true of defense spending, although we can no longer afford endless wars we can't win. How could you do this?'". As of 2003, the share of elderly below the poverty line had fallen by two-thirds to 10 percent -- representing a huge national success. Durbin and the Filibuster 'Myth'. Only 16% of those asked recognize it in its original context as a "veterans memorial day". My parents were the Greatest Generation. The solution is not to force the elderly to get by on cat food again. By 2010, it had exploded to 345 times blue-collar pay. [3] This cohort is also referred to as the World War II generation. The recent proposal by the co-chairs of President Obamas bipartisan deficit commission would, unfortunately, make only a modest dent in our nations humongous credit card bill. 1995 - 2023 by Snopes Media Group Inc. There is no growth in real wages and inflation is at record lows. And an open letter by a woman identified as Patty Myers from Montana began to circulate in 2011. In practice, though, all of this money has been spent by Congress, and the SSA has been left with worthless IOUs. "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. Indeed, they are more burdensome, because Congress has, explicitly or implicitly, promised to pay these benefits off in real (purchasing power) terms. The bad news is they think this can be accomplished by slashing discretionary programs. 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. The look on his face was horrible. "The Greatest Generation" got its name from a book by the same name. Stalin's scorched earth policy left its western regions in a state of devastation worsened by the advancing German army. 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. In 1998, former news anchor Tom Brokaw wrote a book calledThe Greatest Generation. Here's a response in a letter from PATTY NYE from Illinois . But we didnt know! Not true: the boomers didntwantto know and did want unreasonably low taxes, and voted that way. 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. [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. In 1935, Hitler instituted military conscription. 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. 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. 2. That's 11 times our official national debt and also greater than our total net worth, meaning that in some sense we're bankrupt. The World War II generation of the Soviet Union was further decimated by the war. As of 2019, approximately 389,000 of the 16 million Americans who served in World War II remain alive. We cant grow our way out of this mess. As it is, the rate of U.S. domestic investment was only 1.9 percent last year! The last time this issue was seriously tackled was back in 1983, when a Senate committee led by Daniel Patrick Moynihan curtailed benefits, and raised entitlement ages. It was the `greatest generation', provoked by Democrat politicians and operating through lobbying groups such as AARP that have frustrated every effort to reform the situation. Additionally, those alive in 1918 through 1920 experienced the deadly Spanish Flu pandemic. This ability to freely label government receipts and payments in alternative internally consistent manners renders the governments cash flows meaningless from the perspective of economic theory and is called the labeling problem in economics. Per TPM: "We had the greatest generation," Simpson said. The memory of their service provokes guilt as well as pride. When the war in Europe began, millions of British citizens joined the war effort at home and abroad. Following the war, the Allies began the denazification and demilitarization of a post-war Germany. You promise them big pensions and retirement benefits at some distant, later date. Patricia Bealer says: September 16, 2018 at 11:00 pm. That home eventually passes tax free to the descendants. 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. I think she is a little ticked off! The only way out is to reduce spending. But the next generation is much smaller than ours, so very soon it will be a case of the few supporting the many. That has not been easy, and it has required real sacrifices from us to do it. Support for those most in need is threatened by support for those who are more able to look after themselves. [37], As children, members of this generation came of age during Stalin's rise to power. As a group, we baby boomers have made no comparable sacrifice. The lives of this generation are a common element of popular culture in the western world,[26] and media related to this generation's experiences continues to be produced. 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