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Started By
Message
re: Federal Budget Deficit Widens, Driven by Baby Boomers
Posted on 12/15/15 at 9:32 pm to GRTiger
Posted on 12/15/15 at 9:32 pm to GRTiger
quote:
As the sin of two boomers, I pay the same taxes and I already have more in my retirement savings than both combined. Boomers didn't save. I'm all for personal responsibility, but boomers were definitely not.
Ummmm right. maybe you fail to realize that some people have lost their savings to bad investments, some haven't any saving as they have paid for their kids college education out of their pockets, some have had to cash in their retirements for many unknown reasons. Paying for everything that lil Johnny & Jane wanted gets very expensive. I'm sure its tiring to pay for 24 year old Jonnies cell phone, car note, car insurance, buy his clothes, feed his lazy arse, his own internet connection, etc.
lol
2
Posted on 12/15/15 at 9:34 pm to X123F45
quote:
It's a long story that involves me banging your sister in your bed.
I don't have one. And from what you hipster roommate tells me, your 'story' isn't long...at all
Posted on 12/15/15 at 9:35 pm to joeleblanc
quote:
Its more than likely from more people retiring..getting back THEIR money they have put into the system
Don't try to explain this to the spoiled little bastards. They just want to keep sitting on their fat asses playing games and let the old people keep working until they die on the job.
Posted on 12/15/15 at 9:38 pm to Redbone
quote:
Don't try to explain this to the spoiled little bastards. They just want to keep sitting on their fat asses playing games and let the old people keep working until they die on the job.
lol..but on the same note...They want us to retire, so that they can have our jobs. Then they are complaining that the budget deficit widens due to more people retiring!. So clueless
Posted on 12/15/15 at 9:39 pm to joeleblanc
Already buy your life alert, old man?
Posted on 12/15/15 at 9:41 pm to joeleblanc
quote:
some people have lost their savings to bad investments
Lot of boomers have Pensions to fall back which won't ever be an options for millennials
Posted on 12/15/15 at 9:47 pm to undecided
quote:
Lot of boomers have Pensions to fall back which won't ever be an options for millennials
I don't know a single person that has a 'pension' fund
Posted on 12/15/15 at 9:48 pm to joeleblanc
Good thing younger folks don't have kids and investment risk to worry about. Good thing boomers were the only ones with investments to worry about during the last recession.
Saving was not a priority for boomers. You're not fooling anyone trying to convince anyone otherwise. If they did, this last recession wouldn't have been as bad for them as younger folks. By 2008, boomers would have 30 years of investment and more conservative plans being at the twilight of their earning years. SS was the retirement plan. People my age are preparing for no SS.
Saving was not a priority for boomers. You're not fooling anyone trying to convince anyone otherwise. If they did, this last recession wouldn't have been as bad for them as younger folks. By 2008, boomers would have 30 years of investment and more conservative plans being at the twilight of their earning years. SS was the retirement plan. People my age are preparing for no SS.
This post was edited on 12/15/15 at 9:49 pm
Posted on 12/15/15 at 9:48 pm to joeleblanc
quote:
I don't have one. And from what you hipster roommate tells me, your 'story' isn't long...at all
I am who you think I am, and I have always loved you.
Posted on 12/15/15 at 9:50 pm to TheOcean
still a rather young sprig...no need for one. You shaving yet? Know what your 'package' is really meant for, besides filling your hand?
Posted on 12/15/15 at 10:09 pm to joeleblanc
quote:
lol..but on the same note...They want us to retire, so that they can have our jobs. Then they are complaining that the budget deficit widens due to more people retiring!. So clueless
You sir are a fricking idiot.
Posted on 12/15/15 at 10:30 pm to rocket31
Your generation whines like the hippies back in the 60s who are now the baby boomers. Quit being such a pussy and take the your crap like a man. Most of the folks going on SS worked 50 years paying in to the system. they earned their check.
Posted on 12/16/15 at 12:13 pm to knight_ryder
quote:
You sir are a fricking idiot
Classic example...can't debate the topic so lets try to insult the speaker.
try again junior. try to come up with something original. Try to put to use your education, that's if you have one. Mommie isn't here to hold you by the hand and tell you how special you are.
Posted on 12/16/15 at 12:21 pm to GreatLakesTiger24
quote:
They're the worst
Until the next generation comes along
Posted on 12/16/15 at 12:23 pm to joeleblanc
You post like you wear steel toe boots to work
Posted on 12/17/15 at 12:29 am to GRTiger
Yes most Boomers were relying on SS as their retirement and Medicare to take care of them as they aged. They trusted the government back then. They didn't doubt that they would live up to their word and that their money was safe in SS and Medicare
The fact is that both SS and Medicare would be solvent to today if LBJ hadn't convinced a Democrat controlled House and Senate to roll SS into the general fund to finance the war in Vietnam among other things in 1968. Then Carter made the same move with Medicare in 1978(I believe)with a Democrat controlled House and Senate to pay for things such as The PIK (payment in kind)program for farmers to put their land in "Land Banks" and not produce crops on them to bring commodities prices up. From there it just snowballed and now SS and Medicare taxes are paying for things such as food stamps to immigrants, refugees and sorry arses that won't work. So you can't blame SS payments for expanding the deficit when it is SS that is owed,
Roughly 66% of the National Deficit is owed to the American tax payer from robbing Peter to pay Paul. Every one worries about China but they only hold ~7% of the debt with a total ~34% of the debt being held by foreign investors.
The fact is that both SS and Medicare would be solvent to today if LBJ hadn't convinced a Democrat controlled House and Senate to roll SS into the general fund to finance the war in Vietnam among other things in 1968. Then Carter made the same move with Medicare in 1978(I believe)with a Democrat controlled House and Senate to pay for things such as The PIK (payment in kind)program for farmers to put their land in "Land Banks" and not produce crops on them to bring commodities prices up. From there it just snowballed and now SS and Medicare taxes are paying for things such as food stamps to immigrants, refugees and sorry arses that won't work. So you can't blame SS payments for expanding the deficit when it is SS that is owed,
Roughly 66% of the National Deficit is owed to the American tax payer from robbing Peter to pay Paul. Every one worries about China but they only hold ~7% of the debt with a total ~34% of the debt being held by foreign investors.
This post was edited on 12/17/15 at 12:32 am
Posted on 12/17/15 at 3:05 am to LongueCarabine
quote:Lazy 27 year old Millennial here. Just got home after finishing an 11 hour grave yard shift. I work five 12 hour overnight shifts a week but Christmas is coming up so things are kind of slow. I eat at my desk while working. I get one week of vacation a year. I'm allowed 3 sick days a year (I'm on year three and I've taken none) and no PTO. I'm saving like a madman partly because I know that when I'm older I won't realistically be able to count on the social security that I've been "investing in". I'd like to have kids but honestly I don't know if it's the right thing to do with the way our country is going. I'm not whining I'm just pissed off.
Poor, sad little Millennial, finding out life is tough, that no one is going to give him anything.
Pull up your britches, spit out your pacifier, get off your arse and get to work.
LC
Posted on 12/17/15 at 3:28 am to beaverfever
The struggle is real brother.
Posted on 12/17/15 at 4:03 am to beaverfever
quote:
Lazy 27 year old Millennial here. Just got home after finishing an 11 hour grave yard shift. I work five 12 hour overnight shifts a week but Christmas is coming up so things are kind of slow. I eat at my desk while working. I get one week of vacation a year. I'm allowed 3 sick days a year (I'm on year three and I've taken none) and no PTO. I'm saving like a madman partly because I know that when I'm older I won't realistically be able to count on the social security that I've been "investing in". I'd like to have kids but honestly I don't know if it's the right thing to do with the way our country is going. I'm not whining I'm just pissed off.
Welcome to the world we faced all our lives.
Posted on 12/17/15 at 7:37 am to Redbone
quote:"When I was your age, I started with nothing"
Don't try to explain this to the spoiled little bastards. They just want to keep sitting on their fat asses playing games and let the old people keep working until they die on the job.
I WISH I could've started with nothing...instead I started in the hole because one shitty decision by leaders elected by your generation led to another when regulating interest rates, loans, financial obligations, you name it. But you're right, I'm just a spoiled little bastard that has never worked a day in his life.
And by the way, I'm not fat, just a little out of shape ETA: I'm lucky...I busted my arse in school and landed an awesome job with a great company making great money, so I've got it better than 90% of my contemporaries. And trust me, I hate the whiners just as much as you, but don't lump us all into that Millennial BS. It's insulting to those of us who are actually driven to success
This post was edited on 12/17/15 at 7:40 am
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