The way I see it, politicians created an intergenerational redistribution scheme, called Social Security and Medicare. They forced us, baby boomers, to pay into their system - on the promise that when we will get old, they'll force the younger generation to pay for us.
In the meantime, they wasted whatever they could on unrelated schemes and expenses. The problem is - there are too many of us, and too few younger people. Moreover, we are in a depression and are heading for some sort of an economic blowout. The younger people couldn't pay for all of us even if they wanted to - and they don't.
The crowd at the greatest risk are the baby boomers, the recently retired and those who are about to retire. As a generation, we spent our lives with a feeling of false security, thinking that the government will take care of us. The problem is - the politicians who originally started this entire Ponzi scheme are dead, and the younger ones will wiggle out - it wasn't their idea, and it ain't their fault.
"Naturally", in a very general sense, people work, and by the time they are old, they accumulate enough assets to pay the young ones to take care of their needs. Instead, the darn politicians sold us an intergenerational Ponzi arrangement. Their current policies will impoverish those among us who did save something. After the blowout - or the "reset", or whatever it will eventually be called - the younger people will lose what they have, but they will have enough time and energy to start from the beginning.
The older folks will get screwed. |
