My Boomer Tips

21 Responses to “yes, when the baby boomers are all retired, how will we afford to pay their social security?”

1. Water Over Gold

   May 5, 2011 at 2:27 am

   Anti Christ?? How so….

   By the way, we CAN"T pay for their social security.

   The U.S. has been bankrupt a while.

   Government spending is paid for 1 of 2 ways:

   1)monetizing debt ("printing" money) which leads to more inflation (=each dollar bill has less purchasing power)

   2)higher taxes & new hidden taxes (carbon taxes, etc)

   Well since taxes won’t even begin to cover TRILLIONS in new spending, option one is being used to the max.

   Now I want you to watch this 60 minutes interview from 2007. In it, the former comptroller general (nation’s top accountant) says the United States government is bankrupt and that if it were a company if would have failed by now. He also says that at CURRENT spending levels (2007 levels) the U.S. govt. could only afford to pay social security and some medicaid by 2040.

   http://www.youtube.com/watch?v=OS2fI2p9iVs&feature=related

   Since then we have passed $1 trillion in bailouts, nearly $1 trillion dollars in "stimulus", and Obama has proposed AN ADDITIONAL $3.5 trillion budget.

   Now if the comptroller general thought the U.S. couldn’t afford to pay for Bush’s prescription drug bill (from many years back), HOW is Obama going to pay for all this new spending???

   He’ll either have to raise taxes to levels undreamed or hyperinflate the dollar attempting to monetize more debt.
2. .

   May 5, 2011 at 2:27 am

   Relax, that fear has been around for at least 40 years.
3. TheOnlyBeldin

   May 5, 2011 at 2:27 am

   We can’t.
4. d♥♥♥

   May 5, 2011 at 2:27 am

   oh god. I hope a flu pandemic hits the earth so all the weak can die already.
5. DAR

   May 5, 2011 at 2:27 am

   Good question. Now if the fed and congress hadn’t pursued inflation to lower the cost of paying back debt, the dollars they donated as they worked would have greater buying power. However, what is done is done, I guess…..
6. MrExtreme

   May 5, 2011 at 2:27 am

   We wont be able to so evey time you see a "baby boomer" offer them a cig. Hopefully they will die soon so we can survive.
7. AngelaTC

   May 5, 2011 at 2:27 am

   It will be fine! Bernie Madoff was an advisor!
8. - CHANGE - He Refuses To Define

   May 5, 2011 at 2:27 am

   Our taxes are going to go WAY UP to pay not just for Social security, but all of Obama’s failed policies.
9. rschuhart

   May 5, 2011 at 2:27 am

   I don’t know about the the AntiChrist coming yet but you better hurry up and figure this one out.
   I will be of retirement age in a few years and I am counting on you, brother.
10. Demoncatz N Rethuglicans

    May 5, 2011 at 2:27 am

    Thats why the big Illuminati guys are hoping this swine flu scare is the real thing. Population reduction is coming! You’ll See!
11. Will

    May 5, 2011 at 2:27 am

    Get a job first. Then we’ll talk.
12. Helios

    May 5, 2011 at 2:27 am

    Easy! You elect the republicans again – they start forking the money to the Super Rich. It solves all problems. Then the republicans will try to "fix" Social Security by giving all that money to the Super Rich….

    And then there won’t be any money at all – and us Baby Boomers can starve to death. We’re all a bunch of worthless old hippies anyway.

    Problem solved.
13. Zinger

    May 5, 2011 at 2:27 am

    Every working taxpayer will have to pay $400 per month, just to cover the retirees.. Retirees who are living longer and longer and longer.

    That money of course will do nothing for their own retirement, or pay for a dime of the rest of what the government wastes..

    So enjoy paying that $5,000 a year extra for the old people. Obama hopes you can afford it ! He’s counting on you.

    PS Better get a part time job now.. (if you can find one)

    Thank God for FDR ! NOT !
14. ruth

    May 5, 2011 at 2:27 am

    Didn’t the boomers bring us legalized abortion? How can they tell their kids euthenasia is wrong? I don’t think they can.

    What does the a/c smell like? Ours wouldn’t be the first democracy to collapse. It might be the last, though.

    Don’t feel bad, boomers. My 70 year old parents are both still working thanks to recent economic collapse of their real estate investments.
15. Buck Eye

    May 5, 2011 at 2:27 am

    The *rapture* would solve most of our problems

    but in the case of the 85 million baby boomers? I don’t think Social Security will be around unless it is drastically altered to stop being used
    as a *welfare* fund and if the government repays the loans
    Reagan started tapping the SS~~then it was Clinton and then Bush Jr.
    all of them borrowed money against SS

    I am pre baby boomer and on a Ford Pension and Social Security and
    soon Medicare and Medicaid

    There is a 400% iincrease of people 75 years old and older
    WHO ARE GOING BANKRUPT~
    I don’t think the *Golden Years* will be go golden for the vast majority

    of Americans~~
    President Obama said:
    What good is it to eat at the lunch counter if you can’t pay for your meal?
    What good is it to sit at the front of the bus if you can’t buy a ticket?

    I say~~

    What good it to RETIRE if you lose all your money at the casino of life.?

    Buy lottery tickets and hope for the Jackpot~?
16. Michael

    May 5, 2011 at 2:27 am

    Under the Obama Health Care Plan retired people will not be a problem….
17. Obama Hood - Spread the Wealth

    May 5, 2011 at 2:27 am

    Lion – I am on the caboose of the baby boomer generation. Born in 1964. I guess I am going to be paying taxes and working until the day I die. Sad reality of the situation.
18. Hambone

    May 5, 2011 at 2:27 am

    Perhaps you’ve heard of a pyramid scam/scheme before. That’s how SS is run…
19. Anna P

    May 5, 2011 at 2:27 am

    Social Security is supposedly safe until 2030. However, the real problem is Medicare, which is spiraling out of control. We need to deal with both these, plus disability as that has grown exponentially as well.
20. Brad M

    May 5, 2011 at 2:27 am

    Well, I’m a baby-boomer and I’d like to thank some of you for your wishes about the status of my health and the length of my future. I have paid in to a system which politicians from both political parties have robbed blind. Was it my money? Absolutely! But it was your money too. Much of that money went to fund programs to help kids that their parents were so irresponsible that they couldn’t hold a job long enough to feed there own family or have a place to live. Now we are going to pay the price.

    The Anti-Christ isn’t coming, he is already here!!
21. Cecile

    May 5, 2011 at 2:27 am

    Maybe you cannot, with your 3.5Trillion debts, am I right??
    Old and vulnerable people will be put aside; remember what Hitler would like to do.