4. Who are the Baby Boomers?
Most famous generation in American history.
The U.S. Census defines the Baby Boomers as those born
between Jan 1st, 1946 and Dec 31st, 1964.
You see, after U.S. troops returned from World War II,
they quickly settled down and everyone started having
lots and lots of babies.
This gigantic generation has transformed America
as they have passed through every stage of life.
Now they are getting ready to retire.
Read more:
http://www.businessinsider.com/facts-about-retirement-crisis-2010-12?op=1#ixzz2qylZeoJZ
31. • But our politicians just keep spending money. In order to
pay the Baby Boomers what they are owed the federal
government may indeed go into even more debt and have
the Federal Reserve print up a bunch more money.
• So in the end, Baby Boomers may get most of what they
are owed. Of course it may be with radically devalued
dollars. Already we are watching those on fixed incomes
being devastated by the rising cost of food, gas, heat and
health care.
• What is going to happen one day when prices have risen so
much that the checks that our seniors are getting are not
enough to heat their homes?
32. • What are we going to do when those on fixed incomes are
buying dog food because it is all that they can afford?
• We are rapidly reaching a tipping point. As the first Baby
Boomers retire the system is going to do okay. But as
millions start pouring into the system it is going to start
breaking down.
• No, there is not much that we can do about it now. We
should have been planning for all of this all
along. Americans should have been saving for retirement
and governments should have been setting money aside.
• But it didn't happen.
• Now we pay the price.
Read more: http://www.businessinsider.com/facts-about-retirement-crisis-201012?op=1#ixzz2qyw09Yjg
