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Politics : Al Gore vs George Bush: the moderate's perspective
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To: epicure who wrote (3316)10/20/2000 10:12:54 PM
From: cosmicforce  Read Replies (1) of 10042
 
Yup. Couldn't agree more. The first people from the bubble of Boomers will be 65 in 2010 or so. The piper will have to be paid. Those who can retire now are going to start as we speak: there are probably early boomers going on early retirement right now.

There was a Econ Prof from Washington University, St. Louis on NPR talking about how deficits aren't that bad. His thesis : depends upon what you fund with it and that the Reagan and later deficits were investments in the economy. This is an argument that a pyramid scheme doesn't hurt the early players. True enough, but the more layers that aren't hurt, the worse the hurt eventually will be. If we can barely balance the budget now, how is it going to happen when people's net worth goes lower in a recession. Since stocks don't pay dividends much anymore, there is a real problem maintaining income without selling assets when they are at lows.
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