Re: Do you feel betrayed by the previous generations?
One more response;
I do feel betrayed and feel as though I am continuing to be betrayed by the baby-boom generation. I believe they will go down as one of the worst generations ever. Its amazing since I look at the generation before them and have nothing but respect for the men and women who fought WWII and helped create this country.
The baby boomers not only felt entitled and voted for ridiculous spending for THEMSELVES, but they continue to do so. They could care less about passing along $16 Trillion in debt to our generations and the "Promises" they made to themselves in the form of Medicare and Social Security amounts to $117 TRILLION!!! Can you imagine? This is how much money this generation feels they need to live a comfortable life. They have already bankrupted this nation and they are just starting to retire. If you think the USA has financial issues now, just wait 10 years, it will be aweful.
The sad thing is, they like to frame it as this is what the government "promised" our seniors, so we can't back out of it.... the truth is they were the same ones making the promise. If I can promise myself a million dollars of someone elses $$, and make it stick I would scarcely be scratching the surface of how the boomers have done in future generations. The boomers were smart though, they didn't have enough children to run the risk of ever losing elections. Thus politicians pander to the boomers while they retire on the backs of their children and grandchilren.
The only way out of the financial mess is to make the following changes: #1: Social Security is ONLY for the poorest of the poor. #2: Medicare is ONLY for the poorest of the poor. #3: Future generations must suck it up and pay these taxes for 15 years and not expect ANY entitlements.
I would guess with the plan lined out above we could prevent the massive amounts of debts from collapsing the country. Right now we have $117 TRILLION in unfunded liabilities that we have "promised" to the retiring generation over the next 20 years. That is more than 150% than all of our assets combined. Basically, we have promised the boomers everything and then 1/2 of that too! Must be nice to be a boomer.
The sad thing is, they will NEVER see anything wrong with this behavior. They truly believe they are doing nothing wrong and don't see the damage they have done to the country. They are oblivous to the burden they are putting on their kids/grandkids. I have found it is useless to argue with them and even if you can have them run the financial numbers themselves, they just don't get it. They don't seem to have the ability to look past their own last 10-20 years of their lives. They are concerned about one thing, retirement and living out their golden years. They seem to have a one track mind. Hopefully, we can recover from the damage they have done.
I would like to see my generation suck it up, sacrifice and get this nation back on track. The boomers have put us in a position where we could become the new "Greatest Generation" the generation that saved this country from financial ruin. It means living a life of modest means and paying our bills. No more government credit cards. I would like to be the generation that somehow someway not only paid their own way as they went, but made up for all the debt the previous generations had handed us. I would like for my grandkids to be the first generation in a long time to be born into this world without having to pay their parent's bills.