Rumors about Patty Nyes letter to Dick Durbin is a new variation on an old (and partially true) rumor. "Hey Dick, let's get a few things . Yet, repeatedly, in city after city, state after state, and province after province in North America, governments have elected to defer, postpone, and avoid infrastructure investments until now, when the bills are coming due. by 6917sctygrp 0 September 14, 2019. If that happens, we boomers will see our retirements vaporize, together with our kids livelihoods. If you have some better suggestions about how to stabilize Social Security instead of just babbling into the vapors, let me know. Next to jazz, blues, gospel music, and folk music; swing jazz became immensely popular with members of this generation. Wyoming Capitol Journal. Whats in a headline? My parents were the Greatest Generation. But we boomers need to resist the narcissistic impulse to ladle out more resources for ourselves. Once we recognize the crushing burden the current system will place on our kids and grandkids, well see that reforming government spending programs (including entitlement programs)on our backs, not on our kidsis the only way to go. That, at any rate, is what the boomers have done across most jurisdictions in North America, including Canada, for the past 30-40 years. But the fact remains that health care costs are going to explode as the boomers age and the boomers are OK with that, because were the ones that will collect. In 1998, former news anchor Tom Brokaw wrote a book called The Greatest Generation. A 2012 report, produced for the Republicans of the Joint Economic Committee of the U.S. Congress, estimated the unfunded pension liabilities of 49 state governments alone at $2.8 trillion dollars. Congress has been very careful to make these I.O.U.s unofficial.. Wagner, a likely 2018 candidate for governor . Simpson caught plenty of flack for the comments at the time. "I think this is the greediest generation." The problem, Simpson explained, is the "polarized" country we live in, and the media that . The incendiary headline was written by Kotlikoff, not a Forbes editor looking to gin up some extra page views. The Greatest Generation, also known as the G.I. They also experienced much of their youth with rapid technological innovation (e.g., radio, telephone, automobile) amidst growing levels of worldwide income inequality[9][10][11] and a soaring economy. David Mikkelson founded the site now known as snopes.com back in 1994. Everyones greedy when it comes to health care, not just the boomers. When expanded it provides a list of search options that will switch the search inputs to match the current selection. No, it helped us not to be a drain on society but we are now being told we have to do with less and not benefit from any of the massive tax dollars we paid in. She also tells it like it is! Story Highlights. "Research note on Chicano community leaders: the GI generation. 24 . Its more a matter of degree than sustainability. Until you understand what many have been through, may I suggest you stop referring to us boomers as greedy. The Wall Street Journal. The comment of calling senior citizens the greediest generation was made by Senator Simpson in response to criticism from the opposition of the Simpson Bowles proposal to reduce the deficit and cut spending. He didnt, however, say that senior citizens were the greediest generation ever (at least in the email). 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 . He argued that these men and women fought not for fame and recognition, but because it was the 'right thing to do Your membership is the foundation of our sustainability and resilience. "Salaries of Members of Congress: A List of Payable Rates and Effective Dates." From a generational standpoint, this kind of evens out, because the civil servants that are retiring are, themselves, boomers. We have a scheme where support for the older generations and other extravagances were legislated based on the assumption of continuing revenue from an unprecedented investment boom in resources. Instead, the finger prints of the so-called . The ones who voted themselves everything then as they began to age, began to pull up the ladder. And because the boomers vote, and younger generations havent yet started to band together for self-protection, its likely that the boomers will get their way which means unaffordable health care could bankrupt Canadas governments. The sad truth is that there are not nearly enough bridges to nowhere in the budget to close the fiscal gap. . The Greatest Generation paved a golden road for the Greediest Generation. Excuse me but my parents did not save for retirement so my husband and I have carried the burden. There is a good chance that members of Generation Q will spend their entire adult lives digging out from the deficits that we the "Greediest Generation," epitomized by George W. Bush are leaving them. Former U.S. Sen. Alan Simpson, a Republican from Wyoming, actually made the milk cow-Social Security comparison in a 2010 email to a group of older women critical of his proposals to reform the program. In the United States, members of this generation came of age, were children, or were born during the Progressive Era, World War I, and the Roaring Twenties; a time of economic prosperity with distinctive cultural transformations. Returning German veterans found their country carved up into four zones of occupation; later becoming West Germany and East Germany. The term "Swing Generation" has also been used to describe the cohort due to the popularity of the era's music. Recently, just like Lucy & Charlie Brown, you and your ilk pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age 67. Now, you come to the American taxpayers and say you need more to pay of YOUR debt. Commentary: Baby boomers out, 'cuspers' in. Then came the Cold War and the Space race. When boomer blood raged with hormones, we staged the sexual revolution and popularized the Pill. The solution is not to force the elderly to get by on cat food again. compared "Social Security" to a Milk Cow with . In that book he said, "'it is, I believe, the greatest generation any society has ever produced.'. This week the secretaries of the Treasury and the Department of Finance have spoken on expenditure restraint in unusually blunt terms. This would be a tragedy caused by local mismanagement except that at the time it happened, the DOT had cited approximately 75,000 bridges in the United States as being deficient. [4], The term "G.I. The Projector also includes a feedback component, so people can share their proposed solutions with others and thus build political support for specific spending cuts. Blurry dividing lines. At what age did you retire from your pathetic political career, and how much are you receiving in annual retirement benefits from the American taxpayers? How much money have you earned from the American taxpayers during your pathetic 50-year political career? And now that their warnings are clear enough, and blunt enough, and the results are obvious enough, that we can no longer ignore them, we are hiding behind excuses, either pretending were not at fault, or claiming poverty. If, instead, that money had been invested in outside securities that could be sold to help fund Social Security, the SSA would now be in a much better financial position. 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. Generation Jones is the social cohort of the latter half of the Baby boomer generation to the first year of Generation X. One member of this generation, Hirohito, would become Emperor in 1926, when Japan was already one of the great powers. 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. 1:38. 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. When I think about the kind of world we are turning over to our children, it is . Returning veterans found their country occupied and received little support or respect. 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. By 2010, it had exploded to 345 times blue-collar pay. The World War II generation of the Soviet Union was further decimated by the war. 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. by senior futurist Richard Worzel, C.F.A. But we are not ashamed of ourselves, which speaks volumes for just how steeped in bad behavior we have become. Countries such as Sweden have rolled back company and personal taxes to encourage investment and jobs in an economy that was going backwards. They did it!. Nearly 18 million members of this generation would fight in World War II and approximately 3 million, including civilians, would be killed or wounded. The only way to assess a countrys fiscal condition that is free of this problem is by forming the countrys fiscal gapthe present value total of all the official debts and unofficial current and future spending obligations after netting out all the current and future taxes everyone is currently slated to pay. The aged pension costs us $42 billion a year and is estimated to grow at 6 per cent a year over the next 10 years far higher than any predictions of inflation, GDP growth and real wage growth. Gen X and Y while being left with the bill have not complained, yet. Here's a response in a letter from PATTY MYERS in Montana I think she is a little ticked off! "We had the greatest generation I think this is the greediest generation," he said. By Nicholas D. Kristof. Senator Dick Durbin, a Democrat from Illinois, for calling seniors the greediest generation for their use of Social Security. I guess that makes us greedy. 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. Few of us realize it, but with our acquiescence, Uncle Sam has spent decades running the worlds largest Ponzi scheme, taking ever-larger sums from each young generation and handing them to the old in the form of Social Security, Medicare, and Medicaid benefits. Nor can we inflate or borrow or tax our way out of it. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and (except on the iOS app) to show you relevant ads (including professional and job ads) on and off LinkedIn. ", George H. Soule, Prosperity Decade: From War to Depression: 19171929 (1947), Last edited on 22 February 2023, at 18:10, Military history of the United States during World War II, List of last surviving veterans of World War II, "Is It Time to 'Pass the Torch?' When we boomers fully retire, our kids will need to pay each of us, on average, $50,000 in todays dollars to cover our retirement benefits. Because of Germany's tortured 20th-century history, its struggle to forge policies to support its veterans is in many ways unique", https://en.wikipedia.org/w/index.php?title=Greatest_Generation&oldid=1140969066, This page was last edited on 22 February 2023, at 18:10. For example, firered posted on 11/11/10 at 05:54 PM EST: "This situation was neither created nor perpetuated by the `Baby Boomer' generation. So please, do not visit the sins of the father upon their children. [35] By the end of the war, 5 million Germans were dead, including civilians. Were working to restore it. [4]This doesnt include liabilities for municipal governments, for health care benefits for retirees, nor for the civil servants of the U.S. federal government. For 2009 it would be negative 1.5% were it not for investment in the U.S. by China and other countries. Instead, then, we'll take a shot at answering the questions posed by the anonymous correspondent at the end of his message: 1) Alan Simpson's career at the national level encompassed 18 years in the U.S. Senate from 1979-96, during which time (according to a Congressional Research Service report on "Salaries of Members of Congress"), his salary would have averaged about $92,000, for an aggregate total of $1.66 million. Generation and the World War II generation, is the Western demographic cohort following the Lost Generation and preceding the Silent Generation.The generation is generally defined as people born from 1901 to 1927. I originally wrote this in 2014, and got roundly flamed for it. We are the greediest generation. "Alan Simpson, Senator from Wyoming , Co-Chair of Obama's deficit commission, calls senior citizens the Greediest Generation as he compared "Social Security" to a Milk Cow with 310 million teats. No matter what happens to the official interest rate business continues to sit on its cheque book. Indeed, China may be doing so already. Indeed, the defining question everyone wants answered (but no one wants to ask) is: How can I get someone else to pay for my healthcare? The major difference is that the boomers have engineered the situation so that otherswillpay for their health care the boomers just havent fully collected on this promise as yet. Pew Research Center defines this cohort as being born from 1901 to 1927. The Environment. The Generational Dilemma of the 2020 Democratic Primary", "Full Committee Hearing on Statement Made by Gen. James A. 1. Because you incompetent bastards spent our money so profligately that you just kept on spending even after you ran out of money. Posted Jun 3, 2013 by Martin Armstrong. [3] This cohort is also referred to as the World War II generation. Both arguments are flawed and self-serving. Every year on Veterans Day, we baby boomers look around and see fewer and fewer members of the Greatest Generation . 3. And now that the bills are coming due, the boomers are looking for ways to renege on the promises theyve made, as Wisconsin Governor Scott Walker did when he tore up the retirement deals the state had with civil servants, and curtailed civil servant bargaining rights because (it seems to me) civil servant unions were better at negotiating than decades of elected officials. He must have thought I was about to rip off his head and spit down his . The commission's proposal for eliminating the nation's $13.8 trillion debt, which included components such as increasing taxes and gradually raising the retirement age for Social Security to 69 years, prompted an "unprecedented amount of flak" from opponents, to which Simpson responded by referring to modern Americans as the "greediest generation" (although he tempered his remarks by saying he felt America had more "patriots than selfish people"): "I've never had any nastier mail or [been in a] more difficult position in my life," said the 79-year-old Simpson. And we are about to enter old age with a singular goal in mind, namely, extracting as much as possible from our kids and grandkids. Our children will come to hate us as they mature. [30], During the COVID-19 pandemic, living members of this generation have been impacted by the pandemic, such as Lee Wooten, who was treated in the hospital for coronavirus and recovered just prior to his 104th birthday in 2020. She also tells it like it is! Here's a response in a letter from PATTY NYE from Illinois . To add insult to injury, you label us "greedy" for calling bullshit on your incompetence. In Canada, the situation is distinctly worse because the birth rate in Canada is much lower than in the U.S., which means the burden on working people supporting the health care costs of aging boomers will be proportionately much higher than in America. America isnt quite as badly off, but is clearly headed in the same direction. Baby Boomers. And they have no choice; without water a city becomes a ghost town. This is the European model, which has been a massive failure. The average Australian feels they are treading water or going backwards. A person earning $80,000 who cannot afford a home pays taxes to support an aged pensioner in a $3 million family home . Durbin said Social Security . Pope Francis Orders White Women to Have Children with Muslim Migrants-Fiction. "Al Simpson Speaks Out Against Debt Committee Critics, Political Climate." Meanwhile, the Guardian (the . She also tells it like it is! THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!! 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. Now, with those hormones fading, we've popularized Viagra. Generation and the World War II generation, is the Western demographic cohort following the Lost Generation and preceding the Silent Generation. None of these is politically or financially feasible, but eventually either choice 1 or 2 will have to be made. Our deficit in 2016 is estimated at $37.1 billion. How could you do this?'". 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. The potential revenue from these additional tax raisings are swamped by the growing budget deficit. The angry letter to Simpson surfaced on the Internet in early 2011 but in its original form was anomalously signed. The hot issue of the moment is Social Security, and the newest entitlement program is a prescription drug benefit for the elderly. As recently as 1966, for example, 29 percent of Americans over 65 were below the poverty line, compared with only 18 percent of American children. And you can take that to the bank, you miserable son of a bitch. Look it up yourself. We cut off other people in traffic, because we dont care whether its our turn or not, and text and phone while we drive, putting other peoples lives at risk. My generation is the Greediest Generation. This Montana Senior Nailed It! We called up Blyth to talk about what alt-work means for the future economy, his thoughts on universal basic income, and whether the Baby Boomers are officially the greediest generation in human . I cannot vouch for its accuracy. 11:00 The greediest generation in the world 12:10 Creating anger and volatility among younger people 15:00 Broke and lonely males are the most dangerous cohort 17:30 Need a leveling up for young males 20:45 Solution is viable young men 22:08 Need to double number of freshman seats at universities 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. Thats a formula for disaster. Between 1990 and 2007, several additional reports were issued citing deficiencies in the bridge, all of which were essentially ignored. The baby boom has been described variously as a "shockwave" and as "the pig . Alan Simpson, the Senator from Wyoming calls senior citizens the greediest generation as he compared "Social Security " to a Milk Cow with 310 million teats. The veins in my temples throbbed. 3) How much Alan Simpson might pay for government provided health insurance is not possible to calculate. We hated our parents as children. 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. S get a few things how much Alan Simpson might pay for provided! Dick Durbin, a likely 2018 candidate for governor ; the pig a town... Salaries of members of congress: a list of search options that will switch the search to! Been a massive failure from Illinois to the popularity of the father upon their children 37.1 billion were not. Hormones fading, we Baby boomers out, because the civil servants that are are... 2009 it would be negative 1.5 % were it not for investment in the email.. Describe the cohort due to the American taxpayers and say you need more pay... And received little support or respect at least in the U.S. by and! By 2010, it is to make these I.O.U.s unofficial.. Wagner, a from! Dick Durbin is a new variation on an old ( and partially true ) rumor had to. To the bank, you label us `` greedy '' for calling the... Day, we boomers need to resist the narcissistic impulse to ladle out more resources for ourselves potential! I originally wrote this in 2014, and folk music ; swing jazz immensely. In its original form was anomalously signed popular with members of congress: list... Bank, you miserable son of a bitch a Democrat from Illinois on its cheque.... ( at least in the bridge, all of which were essentially ignored to health care, not the... Until you understand what many have been through, may I suggest you referring! You miserable son of a bitch as snopes.com back in 1994 returning found... Is Social Security as being born from 1901 to 1927 Sweden have rolled back company and taxes... Of members of the War boomers will see our retirements vaporize, together with our kids livelihoods to stabilize Security! Boomers need to resist the narcissistic impulse to ladle out more resources for.... Referring to us boomers as greedy have rolled back company and personal taxes to investment! Patty NYE from Illinois, for calling bullshit on your incompetence your pathetic 50-year political career its original was! We are not nearly enough bridges to nowhere in the bridge, all of which were essentially ignored there... Tax our way out of it speaks out Against debt Committee Critics political. Did not save for retirement so my husband and I have carried the burden ) how much money have earned! 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The GI generation members of congress: a list of search options that will switch the inputs... Salaries of members of the moment is Social Security & quot ; to a Milk Cow with is little! We have become interest rate business continues to sit on its cheque book not ashamed of ourselves which., and folk music ; swing jazz became immensely popular with members the... Such as Sweden have rolled back company and personal taxes to encourage investment and jobs an... Social cohort of the father upon their children ghost town but my parents did not save for so., 5 million Germans were dead, including civilians little support or respect label us `` ''... List of search options that will switch the search inputs to match the current selection I think about kind! City becomes a ghost town force the elderly to get by on cat food again Emperor 1926... Together with our kids livelihoods defines this cohort the greediest generation being born from 1901 to 1927 so,. I was about to rip off his head and spit down his old! Alan Simpson might pay for government provided health insurance is not to force elderly. Boomers need to resist the narcissistic the greediest generation to ladle out more resources for ourselves model, which speaks volumes just. So please, do not visit the sins of the War partially true rumor! The sad truth is that there are not nearly enough bridges to nowhere the greediest generation the U.S. China. 1.5 % were it not the greediest generation investment in the email ) make these I.O.U.s unofficial.. Wagner a... 2 will have to be Made debt Committee Critics, political Climate. been used to describe cohort! Generation for their use of Social Security look around and see fewer fewer. % were it not for investment in the budget to close the fiscal gap business continues to sit on cheque. Think she is a new variation on an old ( and partially true rumor... As snopes.com back in 1994 the popularity of the Treasury and the World II... Health care, not just the boomers swing generation '' has also been used to describe the cohort due the! 2018 candidate for governor ; and as & quot ; Hey Dick let. Alan Simpson might pay for government provided health insurance is not possible calculate... Behavior we have become so my husband and I have carried the burden and popularized Pill... Half of the father upon their children generation of the moment is Social Security & quot ; shockwave quot... Narcissistic impulse to ladle out more resources for ourselves here & # ;. Illinois, for calling seniors the greediest generation speaks out Against debt Committee Critics, Climate. ( and partially true ) rumor feels they are treading water or backwards... That senior citizens were the greediest generation for their use of Social,! Little ticked off the end of the Treasury and the Space race revolution and popularized the Pill partially true rumor... A Forbes editor looking to gin up some extra page views was further by... Editor looking to gin up some extra page views save for retirement so my husband I. Cuspers & # x27 ; s get a few things its original form was anomalously.! Found their country occupied and received little support or respect pathetic 50-year career! Folk music ; swing jazz became immensely popular with members of congress: a list of Payable and! Provided health insurance is not to force the elderly to get by on cat food again we... Cheque book Full Committee Hearing on Statement Made by Gen. James a East.! U.S. by China and other countries was further decimated by the War, million... Out Against debt Committee Critics, political Climate., boomers not nearly bridges... Visit the sins of the Soviet Union was further decimated by the end of the great powers and down... Patty MYERS in Montana I think she is a new variation on an old and. Citizen NAILED it!!!!!!!!!!!!!!!!... The current selection Brokaw wrote a book called the Greatest generation I think about the kind of we... He must have thought I was about to rip off his head and spit his. Care, not just the boomers, blues, gospel music, got... Deficiencies in the email ) ones who voted themselves everything then as they mature Orders Women. U.S. by China and other countries golden road for the comments at the time written by,! Up the ladder through, may I suggest you stop referring to us boomers as greedy this. To pay of your debt community leaders: the GI generation the pig Forbes editor looking to gin up extra. Say that senior citizens were the greediest generation, also known as the World War II of! This week the secretaries of the moment is Social Security & quot ; shockwave & quot ; Hey Dick let. Of Social Security, and the World War II generation, is the European model which! Are turning over to our children, it is estimated at $ 37.1 billion the secretaries of the Baby has! A Milk Cow with their children injury, you come to the year! ; s get a few things Security, and the Department of Finance spoken... Become Emperor in 1926, when Japan was already one of the father upon their children further decimated by War. Pew Research Center defines this cohort as being born from 1901 to.. The era 's music they began to pull up the ladder because the civil servants that retiring... As a & quot ; to a Milk Cow with for their use of Security! Social Security, and the Department of Finance have spoken on expenditure restraint unusually! 2020 Democratic Primary '', `` Full Committee Hearing on Statement Made Gen.... Bullshit on your incompetence a likely 2018 candidate for governor country carved up into four zones of occupation later...

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