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Do You Want To Scare A Baby Boomer?

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Do You Want To Scare A Baby Boomer?If you want to frighten Baby Boomers, just show them the list of statistics in this article.  The United States is headed for a retirement crisis of unprecedented magnitude, and we are woefully unprepared for it.  At this point, more than 10,000 Baby Boomers are reaching the age of 65 every single day, and this will continue to happen for almost the next 20 years.  The number of senior citizens in America is projected to more than double during the first half of this century, and some absolutely enormous financial promises have been made to them.  So will we be able to keep those promises to the hordes of American workers that are rapidly approaching retirement?  Of course not.  State and local governments are facing trillions in unfunded pension liabilities.  Medicare is facing a 38 trillion dollar shortfall over the next 75 years.  The Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.  Meanwhile, nearly half of all American workers have less than $10,000 saved for retirement.  The truth is that I was being incredibly kind when I said earlier that we are “woefully unprepared” for what is coming.  The biggest retirement crisis in history is rapidly approaching, and a lot of the promises that were made to the Baby Boomers are going to get broken.

The following are 35 incredibly shocking statistics that will scare just about any Baby Boomer…

1. Right now, there are somewhere around 40 million senior citizens in the United States.  By 2050 that number is projected to skyrocket to 89 million.

2. According to one recent poll, 25 percent of all Americans in the 46 to 64-year-old age bracket have no retirement savings at all.

3. 26 percent of all Americans in the 46 to 64-year-old age bracket have no personal savings whatsoever.

4. One survey that covered all American workers found that 46 percent of them have less than $10,000 saved for retirement.

5. According to a survey conducted by the Employee Benefit Research Institute, “60 percent of American workers said the total value of their savings and investments is less than $25,000”.

6. A Pew Research survey found that half of all Baby Boomers say that their household financial situations have deteriorated over the past year.

7. 67 percent of all American workers believe that they “are a little or a lot behind schedule on saving for retirement”.

8. Today, one out of every six elderly Americans lives below the federal poverty line.

9. More elderly Americans than ever are finding that they must continue working once they reach their retirement years.  Between 1985 and 2010, the percentage of Americans in the 65 to 69-year-old age bracket that were still working increased from 18 percent to 32 percent.

10. Back in 1991, half of all American workers planned to retire before they reached the age of 65.  Today, that number has declined to 23 percent.

11. According to one recent survey, 70 percent of all American workers expect to continue working once they are “retired”.

12. According to a poll conducted by AARP, 40 percent of all Baby Boomers plan to work “until they drop”.

13. A poll conducted by CESI Debt Solutions found that 56 percent of American retirees still had outstanding debts when they retired.

14. Elderly Americans tend to carry much higher balances on their credit cards than younger Americans do.  The following is from a recent CNBC article

New research from the AARP also shows that those ages 50 and over are carrying higher balances on their credit cards — $8,278 in 2012 compared to $6,258 for the under-50 population.

15. A study by a law professor at the University of Michigan found that Americans that are 55 years of age or older now account for 20 percent of all bankruptcies in the United States.  Back in 2001, they only accounted for 12 percent of all bankruptcies.

16. Between 1991 and 2007 the number of Americans between the ages of 65 and 74 that filed for bankruptcy rose by a staggering 178 percent.

17. What is causing most of these bankruptcies among the elderly?  The number one cause is medical bills.  According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States.  Of those bankruptcies that were caused by medical bills, approximately 75 percent of them involved individuals that actually did have health insurance.

18. In 1945, there were 42 workers for every retiree receiving Social Security benefits.  Today, that number has fallen to 2.5 workers, and if you eliminate all government workers, that leaves only 1.6 private sector workers for every retiree receiving Social Security benefits.

19. Millions of elderly Americans these days are finding it very difficult to survive on just a Social Security check.  The truth is that most Social Security checks simply are not that large.  The following comes directly from the Social Security Administration website

The average monthly Social Security benefit for a retired worker was about $1,230 at the beginning of 2012. This amount changes monthly based upon the total amount of all benefits paid and the total number of people receiving benefits.

Could you live on about 300 dollars a week?

20. Social Security benefits are not going to stretch as far in future years.  The following is from an article on the AARP website

Social Security benefits won’t go as far, either. In 2002, benefits replaced 39 percent of the average retirees salary, and that will decline to 28 percent in 2030, when the youngest boomers reach full retirement age, according to the Center for Retirement Research at Boston College.

21. In the United States today, more than 61 million Americans receive some form of Social Security benefits.  By 2035, that number is projected to soar to a whopping 91 million.

22. Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.

23. As I wrote about in a previous article, the number of Americans on Medicare is expected to grow from 50.7 million in 2012 to 73.2 million in 2025.

24. Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years.  That comes to approximately $328,404 for each and every household in the United States.

25. Today, only 10 percent of private companies in the U.S. provide guaranteed lifelong pensions for their employees.

26. Verizon’s pension plan is underfunded by 3.4 billion dollars.

27. In California, the Orange County Employees Retirement System is estimated to have a 10 billion dollar unfunded pension liability.

28. The state of Illinois has accumulated unfunded pension liabilities of more than 77 billion dollars.

29. Pension consultant Girard Miller told California’s Little Hoover Commission that state and local government bodies in the state of California have 325 billion dollars in combined unfunded pension liabilities.

30. According to Northwestern University Professor John Rauh, the latest estimate of the total amount of unfunded pension and healthcare obligations for retirees that state and local governments across the United States have accumulated is 4.4 trillion dollars.

31. In 2010, 28 percent of all American workers with a 401(k) had taken money out of it at some point.

32. Back in 2004, American workers were taking about 30 billion dollars in early withdrawals out of their 401(k) accounts every single year. Right now, American workers are pulling about 70 billion dollars in early withdrawals out of their 401(k) accounts every single year.

33. Today, 49 percent of all American workers are not covered by an employment-based pension plan at all.

34. According to a recent survey conducted by Americans for Secure Retirement, 88 percent of all Americans are worried about “maintaining a comfortable standard of living in retirement”.

35. A study conducted by Boston College’s Center for Retirement Research found that American workers are $6.6 trillion short of what they need to retire comfortably.

So what is the solution?  Well, one influential organization of business executives says that the solution is to make Americans wait longer for retirement.  The following is from a recent CBS News article

An influential group of business CEOs is pushing a plan to gradually increase the full retirement age to 70 for both Social Security and Medicare and to partially privatize the health insurance program for older Americans.

The Business Roundtable’s plan would protect those 55 and older from cuts but younger workers would face significant changes. The plan unveiled Wednesday would result in smaller annual benefit increases for all Social Security recipients. Initial benefits for wealthy retirees would also be smaller.

But considering the fact that there aren’t nearly enough jobs for all Americans already, perhaps that is not such a great idea.  If we expect Americans to work longer, then we are going to need our economy to start producing a lot more good jobs than it is producing right now.

Of course the status quo is not going to work either.  There is no way that we are going to be able to meet the financial obligations that are coming due.

The federal government, our state governments and our local governments are already drowning in debt and we are already spending far more money than we bring in each year.  How in the world are we going to make ends meet as our obligations to retirees absolutely skyrocket in the years ahead?

That is something to think about.

So what do you think?  Do you believe that there is a solution to our retirement crisis?  Do you think that we can actually keep all of the promises that we have made to the Baby Boomers?  Please feel free to post a comment with your thoughts below…

Get Ready Baby Boomers - The Retirement Crisis Is Coming

  • Mark

    No, the politicans promises in exchange for votes from the last two generations supported by the next two generations of serfs can’t be kept. The math is right in your face Many of my generation will get angry and stomp their feet screaming It is mine and I want it now.need to grow up for a change. The boomers and their parents spent all of the wealth of this nation on stupid things.

    • quercus454

      You sound as if you don’t have parents or grandparents. You also make the case that your parents and grandparent were stupid and greedy.
      What stupid things did they spend the money on? Raising and educating you? You sound ungrateful.

      Good luck with that attitude.

  • Mark

    Social Security was not meant to be your sole retirement plan. It was supposed to buy you a chicken for your Sunday dinner and a few more groceries during the month. Families will have to go back to taking care of mom and dad or grandma and grandpa as was done in the past. They will have to pool their assets together so that they can get by. Medicare is out of control and the taxpayers paying $6000.00 for these turn on a dime power chairs can’t go on. We are a broke nation. We have been living way past our means on borrowed or printed money for a long time now.

    • HecatesMoon

      I was just teasing my 9 year old.
      I told him, “Ohhh I can’t wait! YOU have to take care of mom and dad when we get OLD!”
      Dad told him, ” I’m wearing diapers for payback!” lol

      • Beth

        yeah….I tell my momma that she has to live til she’s 200:) but please let’s not do that depends thing! 🙂 BB~Beth

    • Hambone

      Well said. The declining values of our country make the notion of caring for the elderly a very non-vogue thing to do. If we repair our morals, I can’t help but think a lot of problems will be fixed.

    • Mondobeyondo

      You are correct. Social Security was never meant to be the sole source of income in your senior years. But in many cases, that’s exactly what it has become.

      Way back in the day (oh, about 1935 or so), people were expected to save their earnings, retirement, etc. Doesn’t work that way anymore.

      Government programs were meant as assistance, not as a primary means of income.

      Ughhhh!! I haven’t banged my head this hard since Nirvana broke up.

      • what is this troll day,why do you talk about something you know nothing of,SSA was for retirement of the poor who didn’t have a corporate job stealing millions form the poor,the people of the great depression,were told as SSA increased in value in investments their check would increase too,BUT they started stealing the reserve cash to pay you trolls with and SSA started going broke…………BY 1960 there was enough money in SSA to send checks out every month for 10,000 dollars a month,then your daddy the thieft started stealing it, cheating people who worked their whole life out of their money…………………..

        • Mondobeyondo

          SSA was never intended to be a sole source of retirement. Assistance, yes. We all need a little help every now and then. But hopefully you were responsible enough in your working years, to save enough on your own to not rely on Uncle Sammy to take care of you.

        • Mondobeyondo

          Oh, by the way – I thought Troll Day was January 16th.

          Hee hee!

      • gwyn Charlton

        Back in the day most people garden. Had chicken in many small town without the rules to control how a yard should look. Yes, family took care of each other but now children move all over the country. Back then the banks closed and wipe out saving and now Stock market has done same to 401K and retirement plans. The Business and State did not put back the money for retirement and now scream they can not do it while give Million to CEO’s or paid all the government lawmaker such nice retirements. But the Senor are at fault for not saving enough. Yes, we were foolish for believe all the garbage that spending was important for nation growth. We should have did what our grandparents did buy one house, paid it off and only investing in what we knew about and not listen to all safe investment that left the senor with little or nothing. So what do you plan to do throw all Senor on street. Just remember on day you will be old and what comes around goes around. After all your teaching the next generation what do to you.

        • Mondobeyondo

          70-80 years ago, most people could make it, with a little help from their friends (thanks, Ringo Starr!) That is not the case anymore.

          You can learn a lot from listening to a senior. Maybe those “old war stories” don’t appeal to you. That’s fine, but you’re missing out on a lot. Imagine – hearing a first hand account from someone who fought in the Tet Offensive in 1968.

      • It doesn’t work that way anymore because of layoffs and the over 60 crowd many times will not be able to find a job.

    • markthetruth

      In a way your Wrong !

      SS was a designed program to take money from workers and their families and putting a age in which you can collect that’s was calculated that most would never live long enough to collect.

      Unfortunate for them, came the advancement in healthcare advancement keeping people living longer and a money making bushiness for nursing home , extended living homes ext.

      So the people where never suppose to be including in the part of collecting on any part of the monies.

      Hence now increasing the retirement ages to fit the system so you can’t collect.

      the end

    • Mondobeyondo

      Have we been too generous as a nation?
      I doubt it. It’s our government, that has been too wasteful.

      If you want a ribeye steak, or a T-bone steak, you can buy one yourself. Just head on down to your favorite butcher or grocery store. Oh, you don’t have enough money? Oops, sorry, dude/dudette! I’ll help you with your water or light bill, as much as my resources will allow. But I can’t buy you a ribeye steak. Why? Because I can’t afford one myself!!

      Yes. We’re gonna make it through this. It’s very hard right now.But, we will get through this.
      And if history does indeed repeat itself – the best days are yet to come.

      • Mondobeyondo

        We are in a depression.
        Deny it all you want, but …..
        you cannot ignore the truth.

        • Hammerstrike

          Did you reply to yourself?

          • Mondobeyondo

            Yes, I did. I talk to myself often. LOL!

      • Hammerstrike

        As a nation, you have been too generous and indulgent toward yourselves perhapse?

        Not be hating on Uncle Sam, things are often just as dismall on the other side of the Atlantic too.

    • Hammerstrike

      They knew that but they took the decision to spend rather than save netherless, even when it was evident that there would be a retirement crisis… They figured out that the governement would just bail them out no matter what due to their sheer number, at the expense of those still in the workforce, which they would outvote.

      Even on this website, I saw some retired dude being bitter toward uncle sam and the younger generations, for “throwing the eldery under the bus”.

      Solutions? Cut military budget, everything necessary to pay for medicare and SS, not fix his/her country´s problems.
      No no no, I am not selfish wanting others paying 80% taxes and give up their retirements because I refused to save in a time when living standards where higher, I deserve to have it better than they do and if you don´t agree, you are souless!

      Where did that ME ME ME atitude comes from again? The people who saw WW2 and the great depression, maybe? 😀
      When did throwing children under the bus, Roe vs Wade, become acceptable?
      Who didn´t gave a **** about sound policies all those decades, initally made a show to reject materialism but later took the decision to screw future generations for comfy MacMansions?
      Who wanted far less childrens than their parents because they wanted the consumerism, the high-life, where all for rights but not for responsability, no duties? Oh right!
      As the majority sow, so do we all reap!

    • Francois

      problem is, too many younger people are unemployed/underemployed and have even moved back in with parents. They WILL NOT be able to support them!

  • Tim

    And so many talk as if the trillion-dollar annual deficits are temporary, i.e. that they’ll disappear once the economy fully recovers. Right.

    • Hambone

      If our government creates a budget with a 1 billion dollar surplus, we might consider that a win, right?

      At that rate, it would only take 16,439 years to pay off the debt.

  • SmallerGovNow

    Another great article Michael. God help us brother….

    • Ralfine

      Why not help yourself?


    No need to worry the government will take our guns and then the young will kill all the old folks..

    • Ralfine

      Your kids will kill you accidentally when they are nine when you leave your gun lying around.
      Or they shoot you before they go onto that school rampage.
      If you don’t want to lose your guns, lock them away.

      • RICHARD

        I have already told my children that when i get old enough where I can’t take care of myself that will be there job. If they don’t want to do it the nursing home gets it all. I think there going to take care of us.

    • Hammerstrike

      Like Captain Planet said, the choice is yours.

  • Simon

    I know! How about a big world war to fix all these problems – the foreign debt, the unfunded liabilities, the unpatriotic little people questioning the govt., the FED, researching false flag terror and SCADs…everyone will rally around the flag and hail to the chief.

    • maybe the war will kill lots of them

    • Mondobeyondo

      Maybe so. These itty bitty wars in Iraq and Afghanistan haven’t done much, so. might as well set the whole globe on fire once again.

      Hit the reset button.

  • markthetruth

    We have created double edge swords by fooling with mother nature and human life.

    we fool with the human body , from medical diseases we created by our pollution, chemicals and other waste. So now we spend billions trying to cure the people and also making people live longer but we can’t afford it.

    We live in places we shouldn’t by recreating nature, living on the rivers, oceans, deserts, volcanoes but when mother nature does her thing, it cost us billion and billions to repair. And then we want to modify nature for our greed. and comes back to bite us.

    The planet will be over populated soon and so polluted , so that we are looking for another planet to move to.

    the end…

    • dios mio

      • markthetruth

        my god is right !
        He is not happy with what we are doing..

        the end…

  • Vitessa

    I have a solution, commit a crime, go to prison, prison will take care of you, you have food, roof over your head, medical attention. Make sure you get something like 10-15 years, so hopefully you will die there. Hey just a thought, you never know what people might do out of desperation

    • Mondobeyondo

      Free housing, free food (3 hots and a cot)… free medical care, for several years at least. Not a bad gig. But I’m still not gonna rob a bank…

    • Tim

      Surely you jest. I think you need to watch a few episodes of a show called Lock Up. It’s about life inside some of America’s toughest prisons. If you knew what it’s really like in prison, I don’t think you’d say something like that. I think I’d rather be homeless than to be in prison with those who have no regard for human life.

    • Ralfine

      There was a joke in the UK the other day:

      Let’s put the seniors into prison and the criminals in care homes.

      This way everyone gets what he deserves.
      (Just think about it.)

  • soylent green

    • Beth

      argh, let us hope not!

  • Imaplaneiac

    No worries – the Death Panels in ObamaSCARE will ” liquidate ” the elderly! When DICTATORS control your health they control your LIFE!

    • lee aikin

      I think those Death Panels are called Insurance Companies who will deny your claims for care. What is paid for under Obamacare is an opportunity to discuss end of life issues with your doctor. Having cared for my mother dying after the pig valve in her heart failed after 10 year at age 88, and my husband with Alzheimers, I know that sometimes all you can do is ease inevitable death. Neither wanted heroic measures at the end, they just wanted my tender care.

      • Mondobeyondo

        Death panels? You mean we’re all gonna die? Really?

        • ThriftandSkill

          You may be laying there as if you are unaware, but a study in England found that 40% of people who were considered brain dead were not. They were aware.

          While everyone is going to die, no one needs to die a “convenient for others” needlessly painful death. (And with everything else in this current world, it is money.) In addition, sometimes a few hours or a couple of days means something. There can be meaningful closure.

          A few days ago, a friend’s mother was dying. Her mother was aware of this fact as did the family. The family asked for a procedure to be done to prolong her life just a bit. The mother was aware and willing. Everyone knew it wasn’t a cure. It gave her the time for a meaningful closure for everyone, including her great grandchildren, and even sat in a chair with them.There was much grief in her passing, but less stress for all.

          When food and water is withheld, large doses of morphine are given. It hides their pain from the family, Not the victim’s pain. Even in these situations, the family does not have a good closure. Family members have mentioned this. In other cases, the family members have been traumatized by how their parent died.

          Life is like a fire in a home. Everyone can have a discussion on what they would grab as they left the house. I had a fire in my house. Our children were young. We didn’t care about Aunt Tilly’s immigration papers, or Uncle George’s war medals. We went into the sixteen degree temperature without coats or shoes as it was in the middle of the night. Everyone made it out safe and sound.

          No one will know what they will really want the doctor’s to do when the time comes. To make a decision like that with a lawyer who will attach it to your power of attorney, will set you up to make the wrong decision. No one wants to die in severe pain. The medication will not help you. Even suicide is a long term solution to a short term problem. Life is precious. It isn’t an inconvenience for someone else.

      • El Pollo de Oro

        Death panels: Blue Cross, United Healthcare, Aetna.

        HMO = Horrible, Murderous Ogars.

      • glancealot7

        Better check what is going on in England they are purposely holding back fluids from patients that are not terminally ill. To KILL them…

        • SD Mule

          Maybe this means doctors are not in the “healthcare business” but the “sickness business”. If you want healthcare, search out those who know about health, not those who know about sickness. If you are simply looking for convenience, well then, you must pay the price of convenience.

          • hazeleyes

            Agree with you!

        • Ralfine

          Not really.
          Like in every profit oriented business, there is not enough personnel to perform all necessary work.

          Carers, for example, just have enough time to put food on the table, change the bed sheets and bed pans, before the next feeding round.

          They do not have sufficient time to make sure that every care home resident drinks enough.

          And, of course, there is no time to talk with the residents.

          A care home is a business, that makes profit from the savings of demented seniors.
          Carers and cleaners are only paid minimum wage and are worked 12 hours a day.

      • ThriftandSkill

        Those “death panels” are already in place. With Obama care they will just be kicked up a notch.

        My experience was about 2.5 yrs aso. My mother had an operation that we were told was necessary or she would die. We consented. The outcome was okay, but the doctor on her team wanted to withdraw her food and water, by telling my father and I that she had only days to live and also had pneumonia. This was a bold face lie. Unknown to us, they started this process before our meeting. I correctly assessed the situation, and we stood ground. In addition, it was understood even before the meeting that no matter her physical situation, she was coming home to my house and would be given 24 hour care. It was an unpleasant and harrowing meeting. My advocate, my son-in-law, said that had he not been there he would have not believed it!

        **It was not five minutes after that meeting** that the doctor told me that “You will be able to take you mother home and care for her.” If that doesn’t make your blood boil, nothing will.

        She lived 13 months after this. While she wasn’t totally herself, she experienced one more wedding anniversary, was located in a high traffic area, interacted with her husband, children, and great grandchildren, was part of family activities, enjoyed the seasons, and watched movies. She had a quality end of life. This what her visiting doctor said. In the end, she died a natural death. No one should go through the excruciating pain of dying through starvation and lack of water! Not even a dog or cat! No one should be coerced into signing a document like that either!

        What does Obama want? Don’t give granny a simple operation. Just give her pain medication? Really? Most of the time they don’t give granny or pappy complex operations now, especially based on their age. They will definitely be out of the question in the future.

        When we kill our young and elderly, it doesn’t say much for our culture. Isn’t that what Hitler did?

        • laura ann

          An 83 yr old lady got a quadruple by pass in my town, another 80 yr old got hip repl, and 80 yr old a knee repl. This won’t be allowed in the future.

          • Ralfine

            Welcome to total profit orientation.

        • Obama doesn’t want anything. His handlers want it. Face the facts. we have been duped for decades.

      • hazeleyes

        Loving and courageous lady.

  • K

    Michael, why would you want to scare harmless old baby boomers? Truthfully retirement is still possible for most. You may have to move, to where the cost of living is much lower. You may not get to enjoy a lot of extras, but it still can be done. Glad you noticed, the longer old folks work, the fewer jobs for other folks. No making such people work longer, is no solution at all. It is just a way to drive down wages even further. Besides with much of what is going on, Soylent green seems to be just around the corner.

    • Hambone

      If more mothers of young kids would leave the workplace, even temporarily, and rechannel that effort into raising their kids, I think that would have an even bigger impact on the economy and on society.

      • K

        Perhaps, but society looks down on stay at home Moms. And for reasons I can not imagine, a lot of people care about what society thinks.

      • I hope I can be a stay at home mom one day. With the way things are going now, I may get my wish…

      • Whitecrane

        Amen!!! I’ve been saying this for years. I am not against “equlity,” but what has it gotten us? Someone else raising our children, when we would LOVE to be with them! If all women in the marketplace (EXCEPT those who are, for example, widows, or have disabled children, etc. – there are exceptions), there would be a HUGE vacuum in employment and not ENOUGH men to fill the jobs! Wages would go up. Employers would have to COMPETE for employees. But, oh, no. Everyone wants their two new cars, many TVs, fancy clothes FOR THE KIDS, fancy bedrooms for the kids. Now I’ll hear from everyone about how they can’t live on one income. Wanna make a bet? DOWNSIZE. Try, as an EXAMPLE, to take Dave Ramsey’s course. You’ll be amazed at how you can THRIVE. Instead, men these days don’t want to get further education or training when they can just kick the little lady out into the job market. Lazy bastards. Work two or three jobs so the mother of your children can take care of them. It might be refreshing to come home to a clean house, a meal on the table and the children with their homework done and ready to share family time. Where are your priorities???? I was divorced and had no such option. I earned twice what most men made. If *I* can do it by myself, why can’t these men? Damn. I’m sorry they did away with the draft. It changed boys into men. My rant is done. Go ahead and shoot me… but you know I’m right, you just can’t face it. This lady above me knows I am, and she knows the economics of it. I’m not alone.

        • Whitecrane

          I mean to say, “If all women in the marketplace left, except those…

    • Mondobeyondo

      Retirement? What’s that?

      Face it, you’re a slave
      From the cradle to the grave.

      • K

        I am Spartacus. Retired for a few years now, some months are tight, but you learn to adapt..Bet you already knew about adapting.

        • Mondobeyondo

          Yep. Adapt, or die.
          The dinosaurs never learned that vital lesson. Heh.

    • Hammerstrike

      Many of them took the decision to spend rather than save, even when it was evident that there would be a retirement crisis…
      They figured out that the governement would just bail them out no matter what due to their sheer number, at the expense of those still in the workforce, which they would out vote.
      The real US debt is around 238 trillion, social security and medicare cannot keep going on even if the current borrowed prosperity continues.

      Even if the entire US military budget, homeland security and road budgets where cut, there would still be a deficie.
      Even before that, inflation will continue eating their paychecks.

      You built that, don´t pin it down on how wicked uncle sam and those evil dorporations are for letting you down,

      • K

        Knew you would be here. Was it the weapon systems I mentioned? Or my comment that the TSA should not exist in a real democracy. You know if you are doing this for free you should contact the NDIA, they pay people for this. No one wants to cut the entire military budget. How about just the weapon systems that do not work. Yes in a real democracy TSA should not exist. And I know you threw the road budget in, just to be less obvious. Love the government talking point. Even if you do all this, it will not fix everything. Seems so many of you do not even want to start down the right road. If it does not fix everything overnight, it is not worth doing. If wars and useless weapons systems and corruption had not stolen so much money, there would be no retirement crisis. Sorry, if you object to me pointing out thieves..

        • Hammerstrike

          I would not ask people who can´t afford a steak to pay so I can get mine for free.

          Especially if those people where in troubles due to my own actions.

          But I saw that not everyone shares such a viewpoint.

          No, nearly no one want to cut the entire US military budget, that is beside the point.

          The point, dear readers, is that if it was cut in its entirety, there would still be a deficie.

          Cut the whole budgets of the UN, TSA, NASA, Homeland Security and all remaining infrastructure spendings and there still would be a deficie.

          Social Security and Medicare would still not be sustainable.

          Even more, right now the US is experiencing an artificial, false prosperity based on borrowing, has done so since the 1970s.

          Without it, US living standards would prolly be lower than Greece today.

          But this disaster was entirely avoidable, with higher birthrate and sound policies, the US could have afforded social security and medicare and missions to Mars and Venus too.

          That future was thrown under the bus and not just out of ignorance, but by decisions, choices as some says.

          Thrown under the bus by whom? Not so much by people who where adults in the first half of the 1960s.

  • Hambone

    More bad news. In this culture of death we, as a nation, have fostered, combined with government-sponsored health care means bad news for the incoming class of “seasoned” citizens.

    In countries with nationalized health care, often times it is deemed necessary to let a sick older person live out the remainder of this life naturally (receive no treatment), as it is not cost effective to treat someone with so few years remaining in his life. Treatment for the elderly can be costly and doesn’t always work. The system simply can’t afford it.

    And with folks living longer, this puzzle only gets harder to solve.

    And yes, I’m saying that our attitudes on abortion have resulted in the diminshed value we place on all life, which will translate very nicely to other segments of the population. Chances are, it will be you or someone you care about.

    How’s that “choice” thing working out now?

    • Ralfine

      Nationalized healthcare does not mean you are prohibited from paying for extras.

      Nationalized healthcare means, your ability to produce profit does not depend on your own savings account alone. Your fellow competitors will pay for your recuperation, so that you are virtually available when they are told by their boss: there are others out there who would only be too willing to make your job for half your wage.

    • kenfrombayside

      There is a point here. If you get lung cancer at age 67 after a life time of chin smoking, you treatment should only consist of palliative care that will make you comfy. Look, chemo just about doesn’t work in most cases and costs so much. I can’t stand but present socialist but we have to be realistic

    • Truth

      great. baby is dead and I went fishing in AK before the glaciers were gone from boomers rolling deep in FL with the top down and AC on. The grandkids will appreciate the chinese flags in the National Parks when we put your ashes down a toilet that hasnt been cleaned in a week.

  • Hambone

    With people living longer and longer, we have to revise social security for those under the age of 55 or so — extend the eligibility age at a bare minimum. We cannot pull the rug out from those already dependent on SS, but we CAN do something about those who are not yet on it.

    I know it stinks for people who were planning to retire soon, and it stinks for me (in my mid 40’s), but there simply isn’t the money. Make the hard decisions now so we can plan our lives accordingly — better to know now that we need to work extra years.

    Michelle Obama recently said we all need to be prepared to make sacrifices, and I think we need to take that to heart. If nothing else, follow her lead and reduce your European and Hawaiian vacations by a day or two. I know I plan to do just that the next time I take my entourage overseas.

    My first two paragraphs were serious.

    • Ol’ Grey Ghost

      When SS began in 1935 the average life expectancy was 62 though the age to start receiving checks was 65. That was about 105% of the life expectancy. Today the average life expectancy is 78 and 105% of that is 82. If the government would raise the threshold age to 82, then a lot more people would pay into the system and die before they ever got a chance to draw a check. That should keep the program solvent and turn this Ponzi scheme back into an old age lottery like it started out…

      • Look at what happened in France as they raised the minimum retirement age.

        • Ralfine

          What happened?

      • Mark

        The average lifespan in 1937 was 58 1/2 years old. This was a huge cash cow for congress to spend once the money started pouring in.

        • Mondobeyondo

          I haven’t come up with the statistics to back this up (shame on you, Mondo!) – but it’s safe to assume, that the average person living in the 1930’s lived much fewer years than an average person living in the 2010’s.

          There are not enough working people contributing into Social Security to sustain it. Plain and simple. It worked in the past. It does not work today. *sigh*

          I need to do something constructive. Maybe fly my remote controlled battery powered helicopter into my cockatiels’ cage, and give them a big scare. Maybe that’ll stop them from chirping every time they hear a police siren.**. Who’s your daddy? Huh? Huh?

          (For those of you who don’t know yes, I do have cockatiels. Four of them. My friends call me the “Birdman of Phoenix”, because I couldn’t get into Alcatraz. Okay, that was not funny.)

          ** – Yes, parrots are very sensitive to unusual noises like sirens. Guess it has something to do with noises in their native habitat.

          Okay, I’m going to bed now.

      • Hambone

        “Old Age Lottery.” That is outstanding.

        You’re not a USMA grad, are you? Just curious with the alias.

    • ThriftandSkill

      People are not living longer. They are just making it to their age potential. In 1938 they didn’t have antibiotics, emergency medicine wasn’t what it is today, women still died more frequently than today of childbirth, C-sections were considered risky, better hygiene was on the rise, and food storage was getting better.

      When I was younger, I had relatives and knew of other adults that were deaf from childhood diseases and had the results of polio (that was on its way out before the vaccine). There were those that suffered from rheumatic fever, and as well as tetanus (lock jaw).

      We are a physically sicker society, with most illnesses that are by products of Big matter the “vector.” Our life expectancy will decrease. Too many people will live the end of their life in pain unnecessarily and die for lack of medical care as they will “not be worth it” financially.

  • 2Gary2

    I will set the record straight and prove republicans and conservatives are almost 100% responsible for the deficit:


    The Deficit Has Grown Mostly Because Of The Republican Great Recession
    The deficit has ballooned not because of specific spending measures, but because of the recession. The deficit more than doubled
    between 2008 and 2009, as the economy was in free fall, since laid-off
    workers paid less in taxes and needed more benefits. The deficit then
    shrank in 2010 and 2011.


    The Stimulus Cost Much Less Than Bush’s Wars, Tax Cuts
    Republicans frequently have blamed the $787 billion stimulus
    for the national debt, but, when all government spending is taken into
    account, the stimulus frankly wasn’t that big. In contrast, the U.S. will have spent nearly $4 trillion on wars in the Middle East by the time those conflicts end, according to a recent report by Brown University. The Bush tax cuts have cost nearly $1.3 trillion over 10 years.


    The Deficit Grew Under George W. Bush
    When George W. Bush took office, the federal government was running a surplus of $86 billion. When he left, that had turned into a $642 billion deficit.

    4. The Deficit Is Shrinking
    Last year’s federal budget deficit was 12 percent lower than in 2009, according to the Office of Management and Budget.The deficit is projected to shrink even more over the next several years.


    Investors Are Paying Us To Borrow Money
    The interest rate on 10-year Treasury bonds is negative, according to the Treasury Department. Investors are even paying us for 30-year Treasury bonds, when adjusted for inflation.


    Investors Are Not Running Away
    Conservative commentators
    have been warning for years that investors will run away from Treasury
    bonds because of the national debt. So far it’s not happening. Interest rates on Treasury bonds continue to hover at historic lows.


    Health Care Reform Reduces The Deficit
    Republicans have blasted the Affordable Care Act as “budget-busting.” But health care reform actually reduces the deficit, according to the Congressional Budget Office.


    The U.S. Is Borrowing Less From China
    The U.S. government is borrowing much less from foreign countries
    than before the recession, according to government data cited by Paul
    Krugman. That is because the U.S. private sector is financing our bigger


    We Spend A Lot On Defense
    Defense spending constituted 20 percent of federal spending last year, or $718 billion, according to the Center on Budget and Policy Priorities. This adds up to 41 percent of the world’s defense spending, according to Bloomberg TV anchor Adam Johnson. Mitt Romney has vowed to not cut defense spending if elected president.


    We Spend A Lot On Health Care
    Health insurance, including Medicare and Medicaid, constituted 21 percent of federal spending last year. In contrast, education constituted 2 percent of federal spending. Meanwhile, Mitt Romney and Paul Ryan have promised not to change Medicare for Americans age 55 and older.


    Republicans May Want Large Deficits For Now
    The federal budget deficit ballooned under Ronald Reagan, and that may be just the way Republicans like it. Some Republican thinkers have proposed “starving the beast”:
    that is, cutting taxes in order to use larger deficits to justify
    spending cuts later. Since Republicans ultimately want lower taxes and a
    smaller government, what better way is there to cut spending than to
    make it look urgent and necessary?

    Yes conservatives–YOU ARE THE PROBLEM, not us progressives. These are facts that you can google for yourselves.

    • Hambone

      You and I might have some grounds for agreement if you would stop calling George W a conservative. He may have an (R) by his name, but he spends like a drunken sailor.

    • Mitch

      You are simply a verbose DUNCE…

      • 2Gary2

        typical repube–call names when you can not debate the facts

    • Hammerstrike

      How comes the best run 5 states are republican dominated and the 5 worst states are democrat-run states?

      How come California, practically one party liberal state is turning into such ****?

      Better yet, Detroit, no republican rule since decades!

      Obama spent more in 4 years than Bush, who was more liberal than conservative, did in 8… wanna explain that?

      “The U.S. government is borrowing much less from foreign countries
      than before the recession, according to government data cited by Paul”

      Yes! That lack of borrowing IS the recession.
      Your country´s current prosperity is borrowed from foreign countries, it have been since the mid 70s, leaving hundreds of trillions in true debt.

  • Mondobeyondo

    Time to face reality.

    With each passing day, we are all getting older. This is true for newborn babies, and it’s true for that person who is in the Guinness Book of World Records as the oldest living person.

    If you are a Baby Boomer (and especially if you are a Gen X’er, and absolutely if you are a Millennial) – and you’re preparing for retirement:
    – Social Security will not be there for you.
    – Medicare and Medicaid will not be there for you.
    – Your government will not help you.
    – Some people will care – insofar as it benefits their own self interests, not yours.
    – Your friends will do what they can for you. But remember, your friends are broke too.

    Just get ready. Brace yourselves. This will not be fun. And never take anything for granted. You can enjoy your beach front property – until Hurricane Kirsten comes along and decides to relocate your condo or apartment into the Gulf of Mexico. Okay…. Now you’re back to square one. Not bad, except you’re now 50 years old, married with grown children, and “starting over” isn’t going to be as easy as it would have been 30 years earlier. Whatcha gonna do now?

    Again – never take anything for granted.

    • Makati1

      I have been telling my grand kids to learn a trade. A carpenter, nurse, plumber, etc. will always be needed in any economy. Many trades are disappearing as the really skilled are retiring or dying. We closed our trade schools just when we will need them again.

      • Mondobeyondo

        Great idea! Wish I had done that.

        In this part of the country (Phoenix, Arizona), there will always be a need for air conditioning technicians, auto mechanics, etc. I really think trade schools will be the way to go in the future.
        Trade schools tend to emphasize a specific topic or area of study. For instance, the aforementioned auto mechanics courses, or how to cook a perfect ribeye steak, How to travel the world on $1500.00 a year. How to buy a liquor store, so you’ll never again be broke in your life.

        Too bad I didn’t know all that, when I walked across the stage with my high school graduation class in 1983 .Oh well. Live and learn…

        And yes, I really am going to go to bed now. I’ve overstayed my welcome. Hope to be back tomorrow…

    • Beth

      This is primarily our motivation for prepping and being as self sufficient as we can!

    • Vitessa

      The problem is how can people save for retirement if they are unemployed? Or if they did and lost their job and had to dig into say a 401k to pay bills. Social security will be the only thing most people will be relying on in mass numbers too. So it will not be going away I doubt it, their will be way too many people depending on it in the future.

      • Mondobeyondo

        Well Vitessa –
        the key used to be, to save up enough money during your working years (you know, those days before you boss said :see ya later”), to be able to provide for yoursellf during the hard times.
        You can’t survive for long if you’re unemployed, not in this economy. The ONLY reason I’ve made it this long, is because I saved enough during my working years to prepare for such an event. But as we all know (okay, most of us know),the money eventually runs out. Now what?

        • Many people through their lifetimes have not earned enough to be able to save much if anything. Many others have lost jobs and have had to spend what they have saved just to survive.

  • Ralphieboy

    As a 63 year old boomer, I blame most of the problem on the boomers themselves, a generation that, for the most part, eschewed the thrifty values of their Depression era parents so that they could “have it all now!” Some I know relied on inheritances from parents, only to be disappointed that the funds were not forthcoming.

    Frankly, the gross self indulgence of many boomers, and an attitude of spend like there is no tomorrow, is but a mirror of our present culture, reflecting the explosion in entitlement mentality and debt.

    When I was 18, I knew then not to rely on the promises of government or corporate employers that my retirement with benefits would be assured. I have been self- employed almost my entire career, have saved, invested, and have done very well indeed. I continue to work because I love my business and the people I work with., and will not retire until the day comes when I do not bring value and fresh, new ideas to my company. It is sad indeed that so many of my generation bought into the false assurances of politicians. But you can’ protect people from their own stupidity.

    • BeenThere

      I am a 62 year old boomer and agree with you completely. In addition to what you say above, our (BB) generation were the ones in charge when all this disaster was created.

      • Makati1

        Actually, it was created in the 30s and was your parent’s responsibility. Or even in 1913 when they created the Federal Reserve. True, boomers didn’t try too hard to get rid of those changes, but not all of the blame can be laid at our feet.

        However, I think all of the hand wringing and finger pointing is moot. Any time now, the whole system is going to collapse so looking out 75, 50 or even 25 years is not our future. Those who feel comfortable with their ‘savings’/’investments’ are going to learn the hard way that they do not really exist unless they are in farm land or some other necessity. Stocks/401ks are a joke. A sucker’s bet. Wait and see.

        • Makati1

          BTW: I am 68.

        • glancealot7

          You are correct. Federal Reserve is a private cartel. Since 1913 it has lost. 97% of our dollars value. All by fiat digital printing not based by any real commodity. Dervivatives around world. Causing most of our problems by never ending to big to fail bank bailouts and now with libor scandal to big to JAIL. Renact Glass Steagall act seperating investment from commercial banking stopping New World Order….New World Currency and New world order bank….

          • Hammerstrike

            The methods for calculating inflation have been revised over 25 times since 1980, so the real rate is even higher than 97%.

    • YOU can’t protect them when most of the people are cowards and have been stealing the SSA money for years to fund hate, death and war,which most americans love,soon they will get a taste of war in the streets of america,that will make all americans happy as they love the sight of people dieing of gun shot wounds,the nato troops are coming………………………………

      • Ralfine

        Nah, let the Chinese UN troops go, and those from Cameroon.

    • cath raymond

      I went back to school at age 40, and earned an Associates, then a Bachelors, because I knew things were falling apart and I would have to keep working til I died.nthats OK…I’m a midwife and my skills will probably be needed that long!:)

    • Well said. Add to that the fact that China can, at any time, call our debt due (which would destroy our economy in less than 1 month), and the severity of the problem is worse than any MSM “reporter” will admit.

      • Mondobeyondo

        They can, and eventually they will.
        China owns us, and they know it.
        They will use that to their advantage.

    • Hammerstrike

      In case you don´t know already, be carefull about the inflation rate of the US dollar (or the Euro for that matter), it is much higher than what official statistics says, shadowstats . c o m it´ll keep eating savings real fast, even before the Big One.

  • bobcat

    How is it that we can afford several wars, military bases all over the world and bank bailouts but not Social Security? It’s a matter of priorities.

    • laurie

      we are not in the business of people….we are in the business of war. and don’t you forget it.

      • Mondobeyondo

        We’re in the war business – and business is good!

        • And the ongoing class war ensures that an enormous amount of wealth created by the common folks of the USA is sent ever-upwards into the hands of the few atop the socio-economic hierarchy.

          • ROME IS BURNING. I wish the Mayans were right. I will be working 6 months past my death. I cant sleep at night. Did everything right. I thought 1 million would be enough when talking to my fianacila planner 30 years ago. maybe for 1 but not 2 people. We have all been duped except for the new rich. The people who will retire with pensions They were the smart ones.

          • hazeleyes

            The US government passed laws that allowed companies to turn pensions that people would have paid into, into 401Ks that enriched Wall Street banks, which gambled with and lost those funds. But the banks don’t worry because they are politicians’ “special interests”.

      • hazeleyes

        They want war now, desperately, but that kills of young people, not old ones. (I’m old.)

    • Ralfine

      If you could afford wars, you wouldn’t have a debt problem, would you?

    • Mondobeyondo

      Because the U.S. is a rich country.

      (desperately searching for barf bag)

    • warrior_woman

      The Trillion Dollar Coin idea, heard of it yet? Ellen Brown has written about it. In essence, our constitution gives the govt the right to “coin” currency. The idea was floated and the Fed Reserve said it “would not recognize it” as it would retire debt, ease the debt ceiling issue and involve literally no debt based on its issuance. If people understood that if the govt coined or minted our own currency, the link of debt to the banks would not exist and power would return from the bankers to the people.

    • Joey

      Because, the plan is to kill all the old people. Obama’s medical advisers wrote that “healthcare should only be given to those 14-45″…. Fed Reserve printing money is designed to force hyperinflation which will starve everyone on fixed incomes …. It’s the plan. And they will just sit there watching American Idol and Judge Judy until they have no food and starve, becausethe ‘greatest generation’ was a bunch of failures who couldn’t teach their kids the importance of morals and religion.

      • jhunted7667

        now you know why they took prayer out of the schools and the 10 Commandments off the wall’s , it’s the devils work , read Daniel chapter 7 verse 4 , we are the first Lion , read Revelations chapter 3 verse 7 thru 13 , we are the church of Philadelphia, we denied Gods name so they have stolen our Liberty and God has let them , in the End when we are totally broke and disease from sin has run it;s course we will eventually be forgiven by God ,

        • g13man

          You will only be forgiven if you , believe in Jesus , ask to be forgiven , and repent

          • jhunted7667

            That will work , but how to get a whole nation to repent and ask for forgiveness before the wrath of God strikes

          • g13man

            Mat_12:40 , Jon 1:17
            ..Do as Jonah..preach and pray and do as Jesus.
            Jon 3:4 And Jonah began to enter into the city a day’s journey, and he cried, and said, Yet forty days, and Nineveh shall be overthrown.
            Jon 3:5 So the people of Nineveh believed God, and proclaimed a fast, and put on sackcloth, from the greatest of them even to the least of them.
            Jon 3:6 For word came unto the king of Nineveh, and he arose from his throne, and he laid his robe from him, and covered him with sackcloth, and sat in ashes.
            Jon 3:7 And he caused it to be proclaimed and published through Nineveh by the decree of the king and his nobles, saying, Let neither man nor beast, herd nor flock, taste any thing: let them not feed, nor drink water:
            Jon 3:8 But let man and beast be covered with sackcloth, and cry mightily unto God: yea, let them turn every one from his evil way, and from the violence that is in their hands.

            ..And yet history says forty years later it was wiped out , [they returned to sin]

          • jhunted7667

            I forgot about Nineveh , the last Time I read about Nineveh it was in the book of Tobit

      • hazeleyes

        The boom generation was out-of-control by the time they were teens; their numbers made them the darlings of corporations and media who profited from their buying power; how were parents to control the media-instilled ideas that buying on credit was fun and it was their right?

    • Hammerstrike

      That is easy, borrowed prosperity.

      You get only 20 000 bucks but in addition to that, you borrow.
      That way you can spend 30 000 on priority A, 35 000 on priority B and 25 000 on priority C.
      But without borrowing, even priority C alone will need a cut.

    • zardoz911

      because the oil must flow

    • hazeleyes

      The people paying into boomers’ social security are boomers’ children who have no jobs courtesy of the real estate collapse and what followed as well as what came before (wars, military spending, theft, out-of-control shadow government agency spending, unimaginable waste and corruption, supposed borrowings and IOUing of SS funds but who knows is that’s one of the lies…
      With a smaller out-of-work-and-no-prospects-in-sight generation slated to pay for boomer retirements, it’s understatement to say things look bleak. Thank all politicians beginning with Johnson. All are to blame, they had/have the power to do right or wrong. Look around and decide which they did. It is what it is; now what’s next?

  • the obvious answer. .. start a few more wars and introduce conscription for anyone over 65.

    • Mondobeyondo

      Ya know, if 65 year olds were drafted, I think society would have an entirely different perspective on war. Older folks know a thing or two about life experiences, marriage, hand grenades, and other stuff such as.

      But it’s the 18 to 24 year olds who go to the armed forces recruiting offices. They don’t know any better. Go to boot camp, and just do as you’re told. Whatever your drill sergeant tells you. Most of them haven’t even begun to live their lives.

      I am NOT anti-military. Don’t interpret this post as being that. It just makes me angry when there is not a purpose behind a mission Afghanistan was an emotional, not logical response.After the 9/11 attacks, America got angry, but the Afghans got smart. That’s why they’re winning.

      To quote from the movie “The Princess Bride” – “You killed my father! Prepare to die!” Really? The U.S. has the strongest military in the world, but we can’t beat a handful of “mujahadeen” warriors in a desert wasteland. If there is no vision, the people will perish. There is no clear cut mission in Afghanistan, other than “killing terrorists” and “establishing a democratic free government”.

      Why are we in Afghanistan?
      “Um, to hunt and kill terrorists?”
      Is that the best you can come up with? Okay, sounds good to me. The list is long.
      Al-Qaeda, Red Brigades, the Irish IRA, Sendero Luminoso in Peru, the Khmer Rouge.. go ahead, pick your terrorist group.

      [okay, rant over!]

      • K

        What rant? I see some accurate statements, and a good question. Perhaps I can answer the question. We are not supposed to win in Afghanistan. The wars are supposed to just keep going. So the few can make tons of money. After all we pay top dollar, for weapons that do not work. Google F35,F22, or my favorite, Littoral combat vessel. A near billion dollar ship, that you could sink with a WWII PT boat.

  • why are some people so lazy that they can’t be bothered to be rich? Poor people don’t deserve social security.

    • John Gardner

      The boomers weren’t lazy! They were stoned!

  • ip

    ultimate solution, downgrade federal poverty line

  • Steve

    The X-generation people are born between 1961 to 1981 according to the generation-x 2011 report(look it up). I have spent my entire life watching these baby boomers moan, grown and complain that their union jobs didn’t pay them enough while they got paid big bucks to do next to nothing. By Gary, Indiana they would sleep half of their shift and brag about it in those steel mills. They are the most spoiled rotten generation the planet has ever seen. The one time I worked my way into a half way decent job I was permanently laid off because of not enough seniority even though people like me did the work on midnights and the day shift baby boomers stood around playing with themselves. To make it worse those baby boomers union’s did nothing to keep the jobs here for my X generation-nothing at all! So since I am almost destitute now I say F-em! My generation will go take their food and belongings when enough of us are on the street while they sit in their imported fat chairs collecting those rainbow pension and social insecurity checks while they ask why my generation why we did not work hard like they did. They always forget that the job’s they had went over seas years ago.When the communist government we have disarms them my generation will strip em’ fast.

    • Mondobeyondo

      Technically, the Baby Boomers were born between 1946 and 1964. I was born in 1965, so I missed the cut. Oh well. I consider myself a Boomer at heart though. I like Elvis, and the Beatles, and Jimi Hendrix. But anyway…

      The America they grew up in no longer exists. It’s gone. It’s now in central China somewhere. I don’t know how to say “picket fence” in Chinese (I’m not going to say “white picket fence”, because well, you know, in this age and time we have to be politically correct), but the Chinese certainly do. So that “Oopa Gangham Style” guy is the latest Chinese pop star. Nice. *

      * – Psy is South Korean, not Chinese.

    • Sarah

      You little twit. I worked my ass off and paid 15% into Social Security because I was self-employed, for over 35 years. Maybe if you got off your ass and pursued an education, you wouldn’t need a “union” job. Besides, have you ever heard of paying your dues? I hope your parents, if they have any money, write you out of their will. I know I would. You haven’t worked long enough or hard enough yet, you asshole. You think a cushy job should be handed to you because you breathe? No wonder why YOUR generation is such a monumental failure. They need to raise the retirement age to 75 for you pukes. Just work a little harder, baby. I paid my dues. You haven’t even carved a notch yet.

  • Makati1

    As I think the total financial system is going to collapse long before 2025, it makes no difference what the statistics are. When/if it reboots, all bets are off on any government assistance, period. Anyone not planning for that eventuality is only fooling him/herself. As-far-as living a ‘comfortable’ lifestyle … it may be possible if you are thinking 3rd world levels. Certainly not anywhere near current American levels. Not going to happen.

    • OBAMA THE ANTI-CHRIST plans to make sure you don’t live to collect SSA,his NATO troops are here and they want what you have,and their going to get it to cause america is filled with braindead morons who think they can go around the world killing and stealing and never have a payback coming from those countries they killed and looted…………..

  • MeMadMax

    Too many people spoiled on socialist programs ***since*** 1913(fed reserve is a socialist program… yes it is, its a central banking system… socialist). Now that the money is gone, reality will kick in. “The problem with socialism is that eventually you run out of other people’s money” Margaret Thatcher.

    • Ralfine

      So, King and Emperor are socialists, since they rule centralized?

      You Americans really need to start reading some books, and watch less TV.

      • MeMadMax

        YES! They are! You are on the right track, but ur letting your emotions get in the way >_>

        • Ralfine

          You better get a dictionary everybody else is using or nobody will understand you.

          • MeMadMax

            Ur concept of internet speak will be ur undoing…
            May the fail be with you!

  • chilller

    The lions share of SS was put there by seniors yet it’s being doled out to anyone with any kind of excuse they can come up with.

  • Maximus

    “The greatest retirement crisis in all history”. C’mon man…..there was no such thing as “retirement” prior to WW2. It is a short-lived concept. People suck it up….if you ain’t got resources just take the little red pill! Kenny Chesney sings “Eeverybody wants to go to heaven but nobody wants to go now”. Go now.

    • Mitch

      After you MAXIPUSS….

  • Beth

    Yes, I learned about this a few years ago in Sociology. In 2030, 46% of our population will be eligible?/needing Social Security. Scary numbers, esp. with the lack of jobs and another statistic that it is projected that by 2030, 54% of our population will be obese/morbidly obese.

  • hvfpaints

    I suggest we quit funding the bs projects that our governmenty STOLE the money from ss to pay for! Either that, or refund my payments into the system.

  • Ralfine

    Nothing to worry about, as the number of seniors rises, the number of kids shrinks. So in the end the number of those needing their diapers changed remains the same.

    Just take an excel sheet and search the web for the statistics to fill that sheet and do the projections to the future 20 years. I did it for China and my home country.

    All that demographic scaremongering is just that – scaremongering. Mostly for the aim of inviting more immigrants to put pressure on the wages.

  • Mondobeyondo

    A lot of problems rise from expectations of having others take care of you. Time to take some personal responsibility. You are accountable to nobody but yourself. If you are unable to do so, we’ll help you. That’s what government programs were (originally) intended for. But if you are depending on that for your existence…

    “Why are you asking me to take care of you? Why don’t YOU take care of you?” – John Lennon, 1974 (allegedly, can’t confirm that statement)

    • MWD78

      “Why are you asking me to take care of you? Why don’t YOU take care of you?” – John Lennon, 1974 (allegedly, can’t confirm that statement)

      of course he was already a multi-millionaire by that point. typical limousine liberal nonsense.

      • Mondobeyondo

        John was definitely on the left leaning side, but you gotta admit, he had a point there. Plus, he was a pretty good songwriter too.

    • tuer

      If he’d had a gun on him he might still be alive

      • Ralfine

        So, why do your soldiers die in wars? Don’t you issue them with guns?

        Or might it be that guns can’t defend you against bullets?

  • Ralfine

    On the other hand, the life expectancy in the US is shrinking. Although the health expenses are higher in the US the people die younger than in any other industrialized country.

  • markthetruth


    Christine Lagarde just said the world had stopped an economic collapse..

    How is that possible by just having meetings and doing nothing except print invisible money. And decades of destruction is cured in a few months.

    the end..

    • MichaelfromTheEconomicCollapse

      These world leaders keep declaring that the crisis in Europe has been “solved”, but then the economic numbers just keep getting worse.

      The truth is that they have solved nothing.


  • Darin

    Dont foget all tbe illegals we are paying for. This article mentions the boomers filing for bankruptcy over medical expenses. Sometimes thats the only option when folks are hit with huge medical bills. However, if you an illegal alien or just a deadbeat wbo kns how to play the system you can get these services for free. Hard work and honesty are many times not rewarded by our current society, but immorality is.
    Whats going to happen when,(and I dont agree with tbis philosophy), many more of the producers decide, “if you cant beat em, join them” then what? Thank again for another outstanding article Michael!

    • Ralfine

      Same problem in Europe.

      So when you are old, go illegally to Europe.

      But leave your gun at home.

      • die slow european fembot

        • Ralfine

          you are foaming
          get a towel
          wipe your face

  • Jodi

    It’s time for people to start saving up for their own retirement. My father-in-law retired a few years ago & my mother-in-law would like to retire now too but she is afraid to retire. She knows life will get more difficult. They have nothing, not a pot to piss in their whole married life. I think their one of those couples who thought life will be great when they retire. This is what happens when you rely on the government to take care of you. And they always say I’ve worked for SS my who life, I deserve it. I understand that, we all pay into it but something has to give.

    • Ralfine

      Get yourself a small house.

      Made of steel reinforced concrete if you live in tornado or hurricane area. Built on stilts if there is risk of flooding.

      The house pays for itself after two storms and one flood, when all your neighbors have to replace all their possessions again and again.

      You can still clean a small house by yourself. No neeed to pay for a housekeeper.
      Keep everything on one floor. No need for stairs. Can move around with the wheelchair.

      Build a smart home. No, not one with lots of gadgets. One with overhanging roof, that gives shade in summer, but lets in the sun in winter.

      Get some decidous trees. Same thing – shade in summer, let sun through in winter.
      Keep the trees away from the house. Even it’s made from concrete, there is no need to have the storm push the tree through the windows.

  • disqus_XeFVQf2YXo

    doesn’t scare me.. I’ll just get an obama-phone…

  • disqus_XeFVQf2YXo

    it doesn’t serve any purpose to say that Social Security was not intended to be the sole retirement plan. The nature of just everyday life has caused it to become the sole retirement for most baby boomers.. Whether they planned it or didn’t plan it…

    It’s all they have.. While the article talks about the baby boomers facing the problem, we might not if all the “extra” entitlements were cut back.. Like payment to non-citizens who never worked and paid into the system.. Non-citizens who worked and paid, should get their fair share.

    We wouldn’t be in this mess, if Johnson and the Democrabs hadn’t made it part of the assets to be borrowed against.

  • El Pollo de Oro

    Here’s another thing that is adding to the retirement crisis in The Banana Republic of America: low interest rates. Many aging, jaded, cynical Gen-X-ers like myself who became self-employed decided a long time ago that it wouldn’t be a good idea to rely on social security alone. So we set up SEP-IRAs (that is, IRAs for the self-employed). In the past, the nest egg in a SEP could grow substantially thanks to high interest rates–especially if you had a good year and put a lot in the SEP. But in the George Dumb-Ya Bush and Barack “Goldman Sachs” Obama eras, interest rates have been a bad joke. Pathetically low interest rates have seriously screwed millions of Americans who have IRAs. The banksters, of course, want to force people into the stock market and out of “insured” investments like CDs, but the roulette wheel in Atlantic City is less of a gamble than the stock market.

    And yet, some people still can’t understand why Ron Paul wants to audit that abomination known as the Federal Reserve.

    • Repubs and Dems alike are totally and completely apathetic to Americans who rely the most on interest income. Having effectively established interest rates at or near zero together with the endless printing of money, has produced a increasingly worthless dollar returning smaller and smaller interest income. The net effect will of course be seniors having to depend on the government to a greater extent than ever before instead of income that should have been generated by savings accounts and other financial instruments.

    • Lorraine

      Honey, you don’t know what you’re asking for. You don’t remember the Carter years. My second husband and I bought a house. Do you know what the interest rate was on the loan (with good credit)? 21 percent. You read that right. So, don’t plan on buying a car unless you pay cash. Don’t buy a house unless you pay cash. But I can guarantee you, your retirement fund will grow!!!! The cost of groceries, gas, electricity? Be prepared. Make sure your mortgage is paid OFF, because it will take most of your income just to buy those things. And don’t worry: It’s coming.

      • El Pollo de Oro

        Lorraine: I don’t advocate a return to the Carter years. He was a lousy president (although the problem of the late ’70s/early ’80s pale in comparison to the nightmare the BRA is facing in the Bush/Obama era). Maybe I should have said “higher” interest rates. But the BRA has gone to the opposite extreme in terms of interest rates. During the Bush years, I would hear Bushbots saying, “These low interest rates are so wonderful. Now’s a perfect time to buy a house.” And I would respond, “No, this is terrible. Low interest rates aren’t helpful when property values are being so dramatically inflated.” I was right. What those low interest rates did was artificially inflate the values of properties, and now, millions of Americans all over the BRA have underwater mortgages. They’re screwed whatever they do. Walk away from the underwater mortgage, and their credit is toast. Stay in the home, and they’re paying 400 grand on a home that’s only worth 200 grand.

        Thank you, Federal Reserve. Thank you for causing so much misery.

  • ThriftandSkill

    It is a blame game to accuse one “generation” or another for the problems we are now facing. It is not by error that there is a distinct subculture, divided by a birth date range, with music, attitudes, and mindset that becomes obsolete as that generation ages. What might bind a generation together also pits one generation against another.

    If I remember correctly, it was during the 80’s that the saying “Those with the most toys before they die, wins.” was popular. What a sad commentary to those who hooked into the temporal, wanting what they wanted “now!” rather than looking towards the future.

    The biggest hindrance to the BBs, that I am unfortunately associated with, is the lack of thrift and skills. Instead of the joy of making and working toward a goal, many chose the instant satisfaction of commercially produced goods, rather than making, or waiting and saving, that in the end, would have had a richer and more rewarding experience.

    Not everyone in this age category is ill prepared for old age financially, or otherwise, due to foolishness. Life doesn’t work that way. Sometimes stuff happens. For the most part however, at least the examples that I know, debt was caused by poor choices, that to me would have been glaring, but to them, was not. Even in debt, many are unable to think frugally or have a skill base to reduce cost. They will continue to do what they have always done. They will still try to put the square peg into the round hole.

    The rules have changed considerably for the boomers. The choices they made, based on the circumstances at the time, may have worked out. They just did not understand the slave master of debt. Then again, neither has the government.

  • Arnie Barnes

    Why doesn’t the USA support euthanasia, for folks that are too old to work or disabled. We all should be productive in society. That would get rid of a LOT of debt troubles.

    • Ralfine

      Google “Action T4”

    • Watchmanonwall

      Are you joking? I hope so. Otherwise, lets start with you. Save the taxpayers the expense and do it yourself.

    • Mitch

      With your obviously severe mental handicap, can we sign you up for Monday say at 9am?

    • americalsgt

      Now that’s the ticket Arnie. Show me how it’s done. You first. Actually there was a funny Vonnegut short story about this. I think it was in Welcome to the Monkey House.

  • drbuzzsaw

    Like living INDOORS?
    Like eating food, other than rat meat?
    Federal Government Announces NEW-IMPORVED Retirement Plan.
    “Work till you drop, then work some more, then we will confiscate all you own and/or owned. What you OWE, Your Bill, will be passed on to your kids to pay and their kids”!
    Everything belongs to the Government!

  • All the above is what must be expected to be the natural outcome of a country that accelerated the ongoing class war in 1972 or so and kept the war raging.

    All is well, though.

    The few atop the socio-economic hierarchy and their heirs will reside in luxury for centuries.

    The rest of you just be grateful that dumpsters will prevent abject starvation.

  • Kat

    I’m a baby boomer already on SSA Disability, and you said something that every Baby Boomer should take into consideration (all people for that matter). “live comfortably.” We are all living above and beyond the means that the people who settled this country lived! Everyone needs to downgrade their “Standard of Living” now, before it’s too late!

    • Watchmanonwall

      Financial Planners have been advising this for decades. It is the 80-10-10 plan. Live on 80% of your income. Save 10% and donate to charity or church 10% to help those worse off than you. Don’t spend every penny and then some for the hear and now. Then, when you retire, you have a savings nest egg and you have not been living beyond your means it is an easier transition. All plans of mice and men are not perfect, your milage may very.

  • Patriot Alice

    Just reduce the top earner’s benefits…A new minimum and a new maximum benefit allowed..

  • K

    Mondo, remember you asked. We went into Afghanistan for 3 reasons. 1. To keep the war machine going. 2. opium. 3. rare earth elements.

  • Mark

    That’s right Mondo, if we are to go to war, get in kick butt and get out. Make no repairs to the place and tell them if you mess with us some more we will; be back and tear up what we didn’t the first time. If other countries understand that policy, we would have fewer wars. Instead of fighting us , they will have to spend their money and labor fixing their own country.

  • James67

    There is one solution. (Jobs, jobs, and more jobs).
    Get the feds out of private enterprise. Capitalism works, socialism does not!
    (STOP) Taxing and regulation industry and private businesses to death. Put people back to work and cut the hand outs and other government instituted bs. Live within your means and that over and above all applies to government.
    Stop shipping the jobs out, bring back made in America quality.
    Enough said, restore the God given right to the pursuit of happiness without government.
    restrict government, not God.
    Jesus Christ is Lord.

  • Tosheba

    Scare this.

  • 2Gary2

    New West Point Study Highlights Threat Posed by Far Right-Wing Groups In U.S.

    Yep I have always said the tea party AKA American Taliban was nuts

  • Veritae

    We are soooooooooooo screwed…

  • 2Gary2

    This has been said a number of times elsewhere, but first, if the deficit is
    as serious as claimed then the first people to give up benefits should
    be members of Congress and their staff. They should simply receive
    Medicare and SSN like the rest of America. Their current salaries
    should be reduced and previous pensions given to retired Congressmen

    The central problem though is the centrally controlled media that
    continually propagate the views of the ultra wealthy and their bought

    For example when was the last time anyone saw a Sunday talk show with
    extended discussions on how simply raising the SSN ceiling for
    contributions will sustain SSN indefinitely? Or that universal health
    insurance is successful all over the world, and would be a boon to
    America. Yet instead of weekly analysis and in depth discussion of how
    universal health care can work in America the media is silent. (They
    would rather fill Americans heads with their made up story line of the
    fiscal cliff. Anything to avoid a real discussions)

    The major media is largely controlled to propagate the views of their financial masters, it is that simple.

    Of course they don’t want open discussion, if the American people
    really knew how they were being screwed there would be a revolution.

    Extend the SSN contribution ceiling to a higher level of income, problem solved.

    Create universal health coverage, Medicare for all for starters,
    Americans would be healthier, the nation healthier and the deficit
    largely solved in one fell swoop.

    But hey, we are a democracy, we can’t talk about these things. Or at
    least the major media chooses not to speak. NBC, CBS, ABC, Fox and the
    rest are propaganda tools and have nothing to do with supporting a

    • Ralfine

      Why are you so keen on American survival?

      Everything is fine as it is right now. Don’t change anything.

      The young and eager are sent overseas to be killed, the rest kills each other off on the street or at the doorstep.

      The progressive will always find a home in Canada.

  • george

    What about the Soylent Green solution? Mmmm…Soylent Green! Yummy!

  • Euthenasia. The US has been killing its children since 1973-thanks to the baby boomers. Boomers didn’t value life then and have taught subsequent generations not to value life. You reap what you sow. God’s law. What else do you really think is going to happen in this culture of death?

  • energizedmortal

    At least baby boomers were able to live the dream and the nightmare. Anyone born after 1985 will only live the nightmare until a civil or world war resets the corruption.

  • Social Security and Medicare would be much better off if the government would stop stealing our money for the General Fund.

  • Logan

    This article totally made me feel like you work all your life and you die with nothing.

  • americalsgt

    Count me among those in this article. I have some savings; less than three figures, and am about to hit FRA and plan on taking the money and I also want to work till I drop. There is no coincidence the words retire and expire sound the same. They do go together. I do agree there is a problem, but something is missing in this article that changes everything. What percent of the boomers are hitting the slots a couple times a week? You been to a casino lately? It’s a lot of old women and some old men. How much money has been lost by our generation in “getting a game” on an electronic slot machine? How many have been bankrupted due to this? Oh they complain about the cost of living and how much their medicine costs, but they still find the cash to play the slots. “Oh it’s just pennies they will say.” Sure it is. The majority of penny machines call for a bet of between 40 -80 cents if you play all the lines,. Do the math – roughly $.80 every two seconds times a minute. See what I mean. Most say that they broke even, but the truth is, they leave when their are out of cash, and that only happens when the hit their dally max for their banks ATM. As most state governments are involved in this, to me, I think of slots as a tax on the poor and a tax on stupidity. So next time you get the boo hoo hoo’s from a senior and if you stay around long enough, the conversation will drift to how they “hit” a machine at Wheeling Downs for a $1,000.00. Of course they spent $3,000 to get it. But it’s only pennies

  • Paul

    No, the government can’t afford all those promises. But baby boomers should have never let themselves get complacent and stupid enough to trust these clowns in the first place. From my experience most baby boomers I ever talk to are arrogant know it all jerk offs anyway. Screw em. Let em lose everything. They won’t listen to a word any young person has to say. Maybe then they’ll learn but it’ll be too late. Oh well. Better luck in the afterlife. Thanks for playing.

  • 2Gary2

    All that needs to be done to permanently fix social security is to remove the cap on the amount of income taxed to fund social security. This is a complete no brainier. If we also taxed social security on capital gains (which is regular income) all people who get social security could get a immediate increase of roughly $65 per month.

  • Mark

    I would suggest to you that the main reason that tuition is rising every year above inflation rates is all of this unlimited government money for loans. If government was not involved, the cost should not rise as much if the schools did not have any customers. The schools would price thenselves out of business.without government. Anyway, most of these schools are run by progressives on the left.

  • Mark

    The government does not owe any of us any social security money, period. It is just another tax like any other tax. Other than your rant against a couple of religions, starting with Enjoy is well said.

  • Scott

    Why would you want to retire anyways? What would you do with all the time? But, on the other hand if the government, and employer is going to take part of your money in exchange for future payments back, then they should be held accountable to them. We all know the past congress/presidents all get their pensions, so why not the rest of us? And if you have not figured it out yet, SSI was set up as another way to take taxes from us, without us complaining to much, they have used all the money in other ways all these years, passing the unconstitutional legislation for that purpose. Wake up, this is not a new problem, just one that gets bigger all the time. Plus you can always do what I did, move to a third world country where the cost of living is very low. Here in Mexico my family of three can live comfortably on about $1,000/mo. Some countries are even lower than that. Plus we do not have people going into schools or movie theaters shooting people. And as far as the drug lord problems, they do not cause problems here, unless you do drugs and do not pay them, most of the problems are in the USA. The crime rate here is a LOT lower than in similar cities in the USA. Do your research, and you will find the truth!

  • Mondobeyondo

    I need a break. [And the peanut gallery goes, “Yaaay! That Mondo guy is finally off this blog!”] Don’t worry, I’ll be back.

    Going to take a couple days off, since it’s the Dr.Martin Luther King Jr. holiday. No mail on Monday, which means I won’t get any bills in the mail until Tuesday. Thank you, Dr. King.*

    In light of the upcoming MLK holiday…How to celebrate? Well, I don’t know if I’d call it a celebration per se. How do you “celebrate” a martyr? He was a great man, who did great things. And I’ll leave it at that.
    * This in no way, shape or form, denigrates the accomplishments Dr. King made to society and humanity.The one thing I admire about him is – Dr. King was 100 percent serious. Many people say they’ll do this or that. MLK proved it. He walked the walk, and he said a few words in the meantime. He lived it. He marched those streets in Alabama, while other just talked about it. Let’s see you march in Selma in March 1965. Can’t do it? What a wimp.

    I haven’t seen Obama at a civil rights march lately
    Lots of political events, of course..
    But no civil rights events.
    That is the difference, political opinions excluded.

    Oh , by the way, I’m not black, or white, or gray. I’m purple. Shouldn’t matter, but it does for some people. How sad.

  • Mondobeyondo

    Things Mondo worries about, Number 364.

    To the persons and peeps who are,, oh nevernind. Figure it our yourselves.

    You keep saying “holy *bleep”
    Why on earth are you worhipping poo?
    Just curious.

  • d.b. sicilianese

    enough dough for 1000 military bases in over 100 countries, for ceaseless foreign wars and nation building, but not enough for people getting old…

  • 2Gary2

    The problem:

    1. Huge cost of higher education.

    2. Health care coverage linked to job.

    3. No single payer health care.

    4. Stagnating wages for workers.

    5. Growth of low wage/no benefits jobs.

    The solution–Tax the rich and spread the wealth!

  • Mondobeyondo

    There will never be peace on earth, until the Prince of Peace (Jesus Christ) returns to proclaim it and defend it.

    Why no peace on earth? You want the long answer or the short answer? Okay, I’ll give you the long answer. Because Satan is the god of this world.

    But you say, “Isn’t God the ruler of the universe?”

    Yes, He is.

    Even though it’s Sunday evening and you should be at church or at your appropriate religious venue (heh.. um. What religion are you? Baptist, Roman Catholic ,Muslim, or NFL?) – I’m not prepared to get into deep philosophical discussions right now. I just want a Budweiser and watch the AFC championship game. But, oh well. Here goes.

    There is no competition between God and Satan. None. The only reason Satan is ruling this world, is because God is permitting him to do so.

    Jesus was tempted by Satan in the wilderness, three times. One of those three was, “I will give you all these kingdoms, if you [Jesus] will just kneel before me [Satan]”. Jesus rejected the devil’s offer. Sadly, many, many other people have gladly accepted it. Live fast, die young. Let the devil have your soul in the end. If that’s what you want, so be it. But it’s an unfair bargain,in my humble Mondo opinion. There is a verse in Scripture, which says “What does it profit a man,, if he owns the whole world, and loses his own soul?”

    Want a list? Okay. James Dean, Marilyn Monroe, Jimi Hendrix, Janis Joplin, Jim Morrison, Kurt Cobain, Amy Winehouse, and that’s just for starters.

  • Mondobeyondo

    Are we splitting apart as a country?

    No, we are not.

    The liberal press want you to think that.

    We’re fine, folks. Egypt is worse off, that’s true. But they have a long history with pharaohs and people like that. We’ve only gone through 46 or 47 presidents, Maybe 48. Depends on how often FDR was elected. Ha ha. Yes, that was meant to be a joke.

    What They Will Tell You:
    These are some seriously tough times we are going through. Vote for me, and things will get better!

    .What They Will NOT Tell You:
    These are some seriously tough times.Good luck.

    Gee ,thanks a lot. Not falling tor that trick again , sorry.

  • Mondobeyondo

    There are times when I hate my life. Now, is one of thoes dimes.
    Times. TIMES.
    gotta keep a sense of humor.. no matter what!
    I’m trying, I’m trying really hard.

  • mgrandma

    Maybe we’ll go back to “poor-houses”. Does anyone remember them? That is where they put the elderly who couldn’t support themselves. Social Security shut them down.

  • Joey

    Well, we have choice to save social security: Pay interest on the debt, and then pay the debt back to social security….. or ….. just default on all the debt, and then fund it directly without the added step of making bankers and wall street workers profit on the debt. I vote for the latter, and maybe even abolish the Fed and print treasury certificates instead of debt notes …

  • Mondobeyondo

    “Hail to the Chief we have chosen for the nation,
    Hail to the Chief! We salute him, one and all,
    Hail to the Chief, as we pledge cooperation
    In proud fulfillment of a great, noble call.

    Yours is the aim to make this grand country grander,
    This you will do, that’s our strong, firm belief.
    Hail to the one we selected as commander,
    Hail to the President! Hail to the Chief!”

    Love him or hate him, advise him or despise him –
    Barack Obama is still our Commander in Chief.

    (Bet you didn’t know that tune had lyrics, did ya?!?!)

  • Polar

    #18 on the list is interesting although there is no supporting stats for “eliminating all government workers” from the pool of all workers paying Social Security taxes. Which government workers DO NOT pay Social Security taxes? The federal government workers have been paying taxes for at least 20 years. There seems to be something very important missing from the information presented. Also, the liability for Social Security payments was never a problem until Congress raided the fund.

  • Most “baby boomers” couldn’t care less about this. They’ll die before the situation becomes critical. My parents worked hard, saved and invested (thanks to my Mother), and retired very comfortably financially. When I pointed out that they used SS payments as greens fees, my Mom responded “Randy, we paid into this system for YEARS and we deserve it!” True, they did pay into it but they didn’t need a dime of it. On the other hand, why should those who lived like my folks (saving and not living an ostentatious lifestyle) be told they don’t qualify to receive any of what thy paid into the system?

  • Hammerstrike

    Good you post for this, for those baby boomers that actually ARE willing to listen and face reality, even if they are just a small minority.
    Range of options is going to shrink very fast.

  • jhunted7667

    the story of crazy old men and women in the streets , they will be slowly done away with the health care system , 75 and older no problem the health care doesn’t pay for anything serious so if you don’t have the money to pay , you die , cheap simple way of genocide , death by attrition

  • Idahoser

    there is no such thing as government-run charity. Government is, by definition, force. Charity is given freely. What you are doing is not charity, it is theft.
    The government exists in order to protect my rights, and to defend the borders. That’s all the money it is ‘entitled’ to, enough to do it’s job.


    our only hope is to let gold go to 20000 per ounce to be able to pay for all of this stuff. the u.s. has 8000 tons right? but no one has seen it. is it really there? we’re all screwed if it isn’t.

  • Daddio

    The answer is that there aren’t enough people. We need to have more children or open the borders. I’m raising 11 children. That’s the answer. Let’s get to it.

  • Numbers don’t lie

    Here is what I don’t get. Well, I guess I do get it, and it bugs me to no end. We constantly talk about SS and Medicare reform. Every conversation at the legislative level talks about lowering future benefits. Well, that is really a lame answer. Why? Well, first off I realize our country is lacking in basic math skills so this might not make sense to some but the problem is the Baby Boom generation. Not that they did anything wrong but rather the sheer numbers. Just how in the heck does lowering the benefit for a future working population many times smaller than the boomer generation help the problem? As boomers continue to age, my generation (many less of us) will eventually become the sole generation contributing into the system. While a huge generation (boomers) will more and more rely upon benefit. You end up with many less horses pulling a wagon train that is much, much longer. Just how in the heck does wiggling the numbers around for a much smaller population of workers offset the current benefit offered to a huge population? It cannot be done.

    True reform will require cutting current benefit to the same levels they keep proposing for future benefit. Instead of raising the retirement age for only future generations only, it must be everybody across the board. Of course that is never going to happen. Boomers would tar and feather any politician who proposed something like that. It is politically much safer to force the cuts on a less powerful voting block. That way a politician gets the best of both worlds. He can be an advocate for “reform” without having to upset his constituency. I say the math is crap and the politicians are greedy.

    Remember the 40 something age guys wearing the “he who has the most toys wins” t shirt back in 80’s? They are the same guys who now are saying “woe is me, the economy is crap,our government is broke, cut this program, cut that one too but don’t touch my benefit I earned it”. To those folks, I say suck it up. You had a pretty good run but the till is empty now. The party is over, quit trying to kick the can down the road to my generation.

  • TW

    When you are an employer with unfunded payroll liabilities, you get a huge fine and/or go to prison.

  • Big John

    War is a racket… You can be sure, the very people who make the decide to go to war and all who are involved in that process all the way up to the highest levels of government and making a fortune.
    When will people realise that we are nothing more than slaves…

  • Concern regarding raising in retiring number of people is really very big, as statistics mention in this article are very shocking and government must be most concern about it. Well as far as those who are going to retire in coming years are big and only way for them to overcome this issue is they need to to save more and more for their retired life rather than relying on government. They need to to save as more as they can.

  • matt

    sorry boomers YOUR generation stole the pennies you put in. without your pittance being compounded it is just impossible to support you in your entitlement years. We shouldn’t have death panels, a death panel costs money. You should just pay up or die, why have a panel. Your treason and theft of the American dream to satisfy your gimmie gimmie attitude should only entitle you to prison, not the future of the rest of us that cant afford to live so you non productive sponges can live alone in a big house and have 3 cars you cant even drive safely. free money, and children of the greatest generation and you still cant make it? You disgust me

  • tducksoup1

    Our congress made sure they did not have to have Obama care, they don’t care about me or you only big company who lobbiest’s pay them off and if we vote them out they just become a lobbiest. Until we get the laws changed outlawing lobbing we will not stand a chance for a true democratic nation. Try writeing to your senator or congressman and see what standard letter that has nothing to do with what you ask may come back. I wrote many and cussed them out and got a thank you for your support letter back from 1. We can piss and moan all day nothing will change until there is a march on washington like never seen before and demand to outlaw lobbiest then they would have to care about our vote and what we think. ten million man and woman march. Heck we will all be out of work anyway what else will we have to do?

  • Tracynaddi


  • Jeff Adcock

    I am interested in how many baby boomers (50+) would do part time consulting work if they could find that work? This would be work in their fields of expertise?

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