We Can’t Let This Happen
Here is an article from CBS Marketwatch website by Paul Farrell which predicts an intergenerational battle royal over the next 30-40 years, as we baby boomers age and make more and more demands on an increasingly fragile social security system and other government “entitlement” programs. And sadly, I can’t disagree with his logic. However, this battle is not inevitable. It can be avoided as long as we baby boomers remember that we should be the mature ones and act accordingly. How? 1. We must be willing to engage in honest discussion of program changes, including benefit changes, retirement age changes, eligibility changes, etc. For as long as I can remember, social security has been considered to be “the third rail of American politics.” (i.e. touch it and die) This can not continue. 2. We need to remember that if there is an intergenerational battle, it is our children and grandchildren who will ultimately pay the price for our intransigence. The simple math is that there are curren...