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January 3, 2013
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Generational theft by the baby boomers

:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 3, 2013
I love my parents but goddamn I'm angry at their generation. The boomers were a generation that lived through unprecedented economic growth, a generation that was educated because education was viewed as a public investment, that prospered like no group ever has in the history of the World. But it wasn't enough, when it came time to continue the investment in the next generation not only did they refuse to foot the bill, they actually ran the credit card into the red and now expects to retire and have their children support them.

How so? Almost a third of the American debt (16 trillion) is actually owed to the Social Security Trust Fund and federal pension systems.

Basically, they saved all that money for retirement (like responsible people) then in the last couple of decades before they retired they cut taxes so hard that the country went into the red, ran their own pension fund dry to do it, then right when they're on the cusp of retiring they dump that debt onto their children's generation and expect full pensions and support.

And the generation they're dumping it on is their children's generation which has already had to bury itself in debt just to educate itself because the boomers also cut funding to education. And they lecture us about responsibility? At every turn they have shirked responsibility and kicked the can down the road. You think there's a controversy over global warming because people disagree with the science? Fuck no, it's because if they accepted it as true they'd actually have to take some goddamn responsibility for their actions and fix the mess they've created.

So, Generation Y, you are now going to have to carry your parents' generation's debt, your own debt that you incurred educating yourself, and somewhere you'll also have to find the money to raise your own goddamn children all the while dealing with a runaway greenhouse effect that could have been easily avoided if an entire generation hadn't been so goddamn self-absorbed and irresponsible.
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Devious Comments

:iconsydnerella:
sydnerella Featured By Owner Jan 15, 2013   Writer
Everyone is guilty of poor judgement at some point in their life, and hindsight is 20/20.

An entire generation cannot bear responsibility for all the problems you state. There are too many different people that you are painting with a very broad brush here.
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:iconcybereaglewarrior:
CyberEagleWarrior Featured By Owner Jan 15, 2013  Student Interface Designer
Yes, let's declare war on an entire generation of people. That's going to make everything a lot better. Let's use old people as an excuse for the source of our nation's woes.
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:iconsquirrels-are-evil:
squirrels-are-evil Featured By Owner Jan 12, 2013  Hobbyist General Artist
"Every rose has it's thorns"
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:iconchocomalk:
chocomalk Featured By Owner Jan 6, 2013
You are using them as a scapegoat. Regardless of who they voted for, the gov has been running its own show for quite a while now. Blaming a singular generation for the crooks on the hill is naive. The entire system is based on debt and borrowing, what good can come from it?
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:iconkittyliou:
KittyLiou Featured By Owner Jan 5, 2013  Hobbyist General Artist
Aaaah generations.
I don't know much about those things, but this made me think of a quote by Antoine de Saint-Exupéry:

"We do not inherit the world from our ancestors. We borrow it from our children."
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:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 5, 2013
That's a good one, my other favourite is "A nation grows great when old men plant trees in whose shade they known they shall never sit."
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:iconevildoctorhobbit:
EvilDoctorHobbit Featured By Owner Jan 5, 2013  Hobbyist Photographer
:iconthisplz:
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:iconomicronwanderer:
OmicronWanderer Featured By Owner Jan 4, 2013  Student Digital Artist
However you neglect to mention that a number of that debt was due to the issue of inflation.

it is because of inflation that the money put into the system over the baby boomer lifetime was unable to pay for their social security later on.

it is because of inflation that the government funnels current social security money paid now into current retiree's pensions.

this has little to do with cutting taxes. it is the improper handling and usage of funds as well as inflation that led to the situation now.

Note: I do disagree with cutting taxes but I do understand that it is a temporary measure of stimulating the economy. I do agree that they should not have cut funding for education and research (most notable in medical and space sectors)
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:iconomicronwanderer:
OmicronWanderer Featured By Owner Jan 4, 2013  Student Digital Artist
However you neglect to mention that a number of that debt was due to the issue of inflation.

it is because of inflation that the money put into the system over the baby boomer lifetime was unable to pay for their social security later on.

it is because of inflation that the government funnels current social security money paid now into current retiree's pensions.

this has little to do with cutting taxes. it is the improper handling and usage of funds as well as inflation that led to the situation now.

Note: I do disagree with cutting taxes but I do understand that it is a temporary measure of stimulating the economy. I do agree that they should not have cut funding for education and research (most notable in medical and space sectors)
Reply
:iconomicronwanderer:
OmicronWanderer Featured By Owner Jan 4, 2013  Student Digital Artist
However you neglect to mention that a number of that debt was due to the issue of inflation.

it is because of inflation that the money put into the system over the baby boomer lifetime was unable to pay for their social security later on.

it is because of inflation that the government funnels current social security money paid now into current retiree's pensions.

this has little to do with cutting taxes. it is the improper handling and usage of funds as well as inflation that led to the situation now.

Note: I do disagree with cutting taxes but I do understand that it is a temporary measure of stimulating the economy. I do agree that they should not have cut funding for education and research (most notable in medical and space sectors)
Reply
:iconomicronwanderer:
OmicronWanderer Featured By Owner Jan 4, 2013  Student Digital Artist
However you neglect to mention that a number of that debt was due to the issue of inflation.

it is because of inflation that the money put into the system over the baby boomer lifetime was unable to pay for their social security later on.

it is because of inflation that the government funnels current social security money paid now into current retiree's pensions.

this has little to do with cutting taxes. it is the improper handling and usage of funds as well as inflation that led to the situation now.

Note: I do disagree with cutting taxes but I do understand that it is a temporary measure of stimulating the economy. I do agree that they should not have cut funding for education and research (most notable in medical and space sectors)
Reply
:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 4, 2013
Inflation is only a problem for your savings if it exceeds the amount of interest paid on your savings. The money may be worth 2% less per year, but because of interest you now have 3% more of it as long as you don't spend it.
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:iconomicronwanderer:
OmicronWanderer Featured By Owner Jan 5, 2013  Student Digital Artist
this is correct. Inflation grew too dramaticly for the interest gained by funds placed in social security resulting in negative interest. this is why the U.S government is pulling money from individuals currently working in an attempt to pay off this debt to the currently retired.

I am trying to point out that the mass retirement as well as politcal behavior baby boomers is not the main cause, they are just 'a' cause.

I appologize if my usage of words appear somewhat angry I do not intend them to be such.

haha. the internet is not a particuly good medium for debates, I much prefer them to be face to face.
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:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 5, 2013
The net isn't perfect for debates, true, but it is useful because you can take your time to think and if necessary research. For instance I tried to find a graph of interest rates vs inflation but sadly couldn't find one (if you have one it would be good to see), however generally speaking interest rates generally stay slightly above the level of inflation. The problem here isn't that the money is still there but but been reduced in value; the problem is that it has been spent. It's gone.

You're right that the mass retirement isn't the only problem, but it combined with decades of short-sightedness and greed in combination have formed a major one and will end up weighing down our ability to take action on a lot of problems in the future.
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:iconopiumrooster:
opiumrooster Featured By Owner Jan 4, 2013
i was about to just shit another comment post but then i read your post and see that it's pretty much the truth and not some usual mindless rant or lame post. fuck what are you trying to do to me?
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:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 4, 2013
I'm in your heeeeead!
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:icondregs-of-humanity:
dregs-of-humanity Featured By Owner Jan 4, 2013
Thanks to Australia's compulsory superannuation the average aussie will retire but continue to recieve 2/3 of their income and at noones expense but their own. Those who earned a high income or payed more than the required 9% will recieve a bigger superannuation stream than those who didn't earn alot, some of these people may need a pension to supplement their super but it still takes a massive strain off the social security system. Only those who barely worked and already leeched off the system will recieve only the pension, and if they want a shitty amount of money they can barely feed themselves I have no complaints.
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:iconstephenl:
StephenL Featured By Owner Jan 4, 2013
You are absolutely and totally wrong and using baby boomers for a scapegoat.

It is the global nationalist world economic expansion that has indirectly caused most of the deficit problems we are currently facing.
All the outsourcing of jobs to foreign countries in the race to the bottom is the problem.
We are now in a situation where total imports have exceeded exports since the mid 1970's.
This is draining the wealth of this country and transferring it to foreign countries that are experiencing economic growth and prosperity. We need to get back to producing more of what we consume instead of importing everything from foreign countries thinking we are saving a couple of bucks. The social costs do not appear on the price tag of all those imported goods like your little cell phones, I phones, I pads, entertainment systems, computers, clothing, household appliances, home improvement goods, and automobiles.

In reality the post World War II generation was the most prosperous and upward mobile of any generation in the USA. Back in the 1940's, 1950's, and 1960's we did not have such tremendous deficits in trade, since most people working in the USA were producing the goods and services that Americans consumed. This lead to lower unemployment and higher income levels that fueled economic growth. Such growth added to the government tax revenue receipts since less people were on social services, instead they were earning income that was taxable, helping to keep government spending lower than the tax revenue they were taking in.
Social Security is something everyone pays into and is entitled to upon retirement regulations for receiving this benefit. If you have paid thousands into this system you deserve to get your earned money back just as if you were saving for retirement in a savings account.
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:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 4, 2013
You're describing a state of affairs that did not happen by accident. Everything that happened was the result of choices by elected officials. And those decisions were the result of short sighted greed and an unwillingness to think about those that would come after them.
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:iconlytrigian:
Lytrigian Featured By Owner Jan 4, 2013  Hobbyist Writer
Except that all the trends you mention correlate exactly with the Baby Boomers' growth in economic and political influence. Who is the "we" who drove these changes, if not them?

Social Security is not, and never has been, some kind of retirement savings scheme.
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:iconmgonzales041090:
mgonzales041090 Featured By Owner Jan 4, 2013  Student Traditional Artist
You're right...FUCK YOU DAD!
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:iconvicarxito:
Vicarxito Featured By Owner Jan 4, 2013  Student General Artist
I don't feel I can really add to this conversation because I know little about politics or economics, but as someone who is hoping for universality this year in the UK, its very scary to think that until recently, university courses only costed 5000 pounds per year for most, but now almost everyone has shot that up to 9000 pounds a year. And that's not including interest which i'll have to eventually pay back. And the money needed to actually, you know, eat and stuff at uni. o_0
The thought of paying so much is terrifying. The fact that this is for education which is much needed by everybody and they charge so much.... Yikes...
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:iconprincess-amy:
Princess-Amy Featured By Owner Jan 6, 2013  Hobbyist Photographer
Don't forget that up until the eighties univresity education in the UK was state funded.  That was taken away by the same older generation that relied on it to get ahead.  Then there was the selling offf of almost all the public housing stock which has caused the problems with spiralling private rents and anyone under thirty not being able to afford to buy a home. 
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:iconendeavor-to-freefall:
Endeavor-To-Freefall Featured By Owner Jan 4, 2013
Welcome to human nature.
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:iconmaddmatt:
maddmatt Featured By Owner Jan 4, 2013
Welcome to generation blame.
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:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 4, 2013
And? You're usually so in favour of people taking responsibility for their actions?
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:iconmaddmatt:
maddmatt Featured By Owner Jan 4, 2013
Yes, you should.
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:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 4, 2013
So why is it wrong to point out that the previous generation has managed to drive the nation into debt despite massive economic growth and slashing investment in the future of the country and that this desperately needs to be addressed?
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:iconmaddmatt:
maddmatt Featured By Owner Jan 5, 2013
If you voted or supported democrats or liberals, than you only have yourself to blame for the reckless spending train we are on.
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:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 5, 2013
Oh ffs, stop being so blind. You really think this is a left/right thing? The past thirty years have seen the same policies implemented by both parties because they're all funded by the same people with the same agendas. The only real difference has been the frosting in terms of social issues and the tone it's presented in.
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:iconmaddmatt:
maddmatt Featured By Owner Jan 5, 2013
This is certainly a left thing. Tax into oblivion while spending into oblivion. And your notion of government needing to solve for the welfare of people is a left thing.

Don't be so blind.
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:iconbladed-truth:
Bladed-Truth Featured By Owner Jan 5, 2013
Actually looking at the facts it becomes pretty clear that all parties have raised government spending. This idea of the Rupublicans as shrinking the government simply doesn't seem to pan out in reality, in fact Republican presidents raise government spending more than Democrats. Observe:

Reagan 82-85: +8.7%
Reagan 86-89: +4.9%
Bush 1 90-93: +5.4%
Clinton 94-97: +3.2%
Clinton 98-01: +3.9%
Bush 2 02-05: +7.3%
Bush 2 06-09: +8.1%
Obama 10-13: +1.4% (Including 2009 stimulus)
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(1 Reply)
:iconzer05um:
Zer05um Featured By Owner Jan 4, 2013  Professional General Artist
He identifies as one of them. Of course he won't take responsibility.
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:iconjackmolotov3:
JackMolotov3 Featured By Owner Jan 4, 2013  Hobbyist Photographer
when it came time to addressing real issues, at the end of the day, they'd all rather get high than try and change things.

They cared more about material, than fixing deep problems that affected their generation.
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:iconcouchycreature:
CouchyCreature Featured By Owner Jan 15, 2013  Hobbyist General Artist
yes, they are so fucked. Poor money managers ...but they seemed good at making stuff -

The scanning tunneling microscope
DNA fingerprinting
implantable artificial heart
Bacterial cement
Apple II computer
World wide web
Optical character recognition and text-to-speech technology
synthetic skin
controlled drug release technology
USB port
The CMOS active pixel image sensor
automated external defibrillator
disposable/portable cell phones
computer games
acrylic paint
CD
DVD
electronic fuel injection
handheld calculators
computer mouse
ATM
LCD displays
gene splicing
post-it notes
laser printing
ink jet printing
magnetic resonance imaging
IBM PC
disposable contact lenses
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:iconself-epidemic:
Self-Epidemic Featured By Owner Jan 4, 2013  Professional Digital Artist
Its all out of balance, people are blaming others but it really doesn't matter. Its not even just America, almost the entire world is struggling right now. Instead of going OMG IT WAS THE 80'S, or OMG IT WAS THATCHER! We just need to go, right, shit happened. Lets fix it.

Though tbh the governments right now sound so backwards. The uk councils want to "punish" obese people, so if they don't exercise they don't get their benefits. Oh there was some other stuff too. I can't remember though.

(p.s I think the obese thing has been ruled out, but its still stupid they even THINK that way. )
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:iconswordofscotland:
SwordOfScotland Featured By Owner Jan 6, 2013

There is an extended saying:

 

"Shite happens!  The only thing that matters is how well one cleans it up!"

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:iconrandomrobskii:
RandomRobskii Featured By Owner Jan 5, 2013  Student Filmographer
The fact that they want to cut back on benefits for the elderly is frankly disgusting, they're just waiting for them to die, I swear. I hate this government. ¬¬
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:iconself-epidemic:
Self-Epidemic Featured By Owner Jan 6, 2013  Professional Digital Artist
Yeah, they're awful to everyone.
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:iconirononiji:
iroNoNiji Featured By Owner Jan 4, 2013  Hobbyist General Artist
The problem with benefits is that they're being misused. And the idea behind cutting obese peoples benfits was that they're probably lazy. Just that isn't a given.
However, how do you stop people from misusuing benfits? Who can you really punish, and it's fair?
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:iconself-epidemic:
Self-Epidemic Featured By Owner Jan 4, 2013  Professional Digital Artist
How can people "misuse" benefits? You get £100 a week, have to prove you work ( we have a website, and now you have to do it through that ) and HAVE to go on courses etc.

Honestly, TRY not doing anything for 5 months, it really ISN'T easy, it isn't fun and its the most depressing situation anyone can be in.
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:iconjeysie:
Jeysie Featured By Owner Jan 4, 2013  Hobbyist Writer
"Honestly, TRY not doing anything for 5 months, it really ISN'T easy, it isn't fun and its the most depressing situation anyone can be in."

This.

For the first month it's fun.

Then the second month it's OK.

Then the third and a few beyond it's boring.

Then you start getting stir crazy.

Then you forget what it's like to leave the house regularly.

Then you start getting almost agoraphobic.

And meanwhile your enthusiasm for sending out resumes just to get silence and rejections back faded after month three or so.
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:iconself-epidemic:
Self-Epidemic Featured By Owner Jan 5, 2013  Professional Digital Artist
Ah, someone who can understand.

Me and my boyfriend have finished uni, and haven't gotten a job, in 6 months. I've applied for factory work, shop work, marketing jobs, you name it. However, nothing.

Its the most depressing state, and me and my boyfriend are finding it so difficult to find any motivation. Its sad.
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:iconjeysie:
Jeysie Featured By Owner Jan 5, 2013  Hobbyist Writer
I've had occasional temp work lasting up to 4 months at a time, but with long stretches of nothing in between, and nothing permanent at all since 2008.

This with a 17 year mostly-positive work history, and always testing perfectly on any skill tests I take.

It's like, I don't understand why I can't just go in some place, take some damn tests, go to a quick basic interview just to prove I'm not psycho, and get placed in a damn job. What point is there in having a skilled, experienced, ready willing & able, person sitting around on her ass because the "Playing Work Game" (the rules for which are 100% unrelated to my ability to do a job) refuses to produce a job for her?
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:iconladysuzaku:
LadySuzaku Featured By Owner Jan 4, 2013
I've been unemployed since late March/early April of last year.

You speak truth.
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:iconjeysie:
Jeysie Featured By Owner Jan 4, 2013  Hobbyist Writer
I haven't had a permanent job since 2008. :/

(I have had some temp work here and there since then, but never for longer than 4 months at a time and there's always long stretches of no luck in between.)
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:iconladysuzaku:
LadySuzaku Featured By Owner Jan 4, 2013
:petting: My unemployment benefits recently got halted because i haven't taken a class, yet. I have to call next week and find out when the next one is so I MIGHT be able to get them again. If I don't get a job first. Not much in the ways of employment opportunities around here.
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:iconjeysie:
Jeysie Featured By Owner Jan 4, 2013  Hobbyist Writer
Class like a work seminar?

And yeah, same here, not many opportunities. Not that it stops the conservatards and libertards on the forum from telling me I'm a lazy leech who's just turning down all those copious job opportunities. While linking me to said copious jobs that are all on the other side of the state.

Or from my uncle lecturing me how I'm lazy for, again, not managing to find work at one of those nonexistent job opportunities by now. Or claiming I'm just too lazy to "work my way up" even though one, I already spent 10 years "working my way up" before losing the job I worked my way up to, and two, I can't work my way up anyway because that requires there actually being available the types of jobs you work your way up from, which there currently isn't.

But nah, why actually listen to and accept that explanation? Clearly everyone else knows my own life experiences better than I do, despite me being the one living my life.

If I had a dime for every time someone comes along and gives me advice I already know, already tried, and/or is impossible, while acting like it was some totally new thing that totes never occurred to me before because apparently they think I'm a retard or live under a rock, I wouldn't need a job. If I then had a dime for everyone who then on top of that acts like it's somehow my fault their advice was total shit, I'd be filthy rich.

Being intelligent sucks, because you're at least two steps ahead of most people but they act you're somehow the retarded one in the equation.
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(1 Reply)
:iconirononiji:
iroNoNiji Featured By Owner Jan 4, 2013  Hobbyist General Artist
100 Pounds are a lot of money, under circumstances. And it's actually less the benfactors misusing them in the UK, but rather employers, I guess. Although I think there would be ways. But I'm just not creative enough to find them. And too lazy.
Also, I don't think many misuse them, but it's the few that do that spoil it for the rest. It's a big problem in Germany, that every social project is somehow misused.
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:iconjeysie:
Jeysie Featured By Owner Jan 4, 2013  Hobbyist Writer
$162 hasn't been a lot of money since I was, like, 15.
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