The Next Crisis: Sponging Boomers | The Economist
Boomers’ sponging may well outstrip that of younger generations as well. A study by the International Monetary Fund in 2011 compared the tax bills of a cohort’s members over their lifetime with the value of the benefits that they are forecast to receive. The boomers are leaving a huge bill. Those aged 65 in 2010 may receive $333 billion more in benefits than they pay in taxes (see chart), an obligation 17 times larger than that likely to be left by those aged 25.
Thanks for getting around to stating the obvious generational civil war. They will damn well get theirs, to hell with everyone else. Their last act will be to suck the life out of the unborn.
The political power of the boomers is formidable. But sooner or later, it cannot escape the maths.
We can’t escape.
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