Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - What happens when the most entitled generation ever hits a recession

Calgaryborn · 05-01-2009, 01:55 PM

I honestly thought you were talking about the Baby boomers. They are the most entitled generation by far. They've lived through the best economic times any society has ever seen and yet as a rule have demanded governments continue to borrow from the future to make their way comfortable. Today the United States is shoreing up banks and other businesses with massive loans to protect them from failure. What it is protecting is primarily Baby Boomers investments and retirement plans. What the States are protecting it with is again borrowed money the next generation will have to pay.

Soon in both America and Canada the workers and business enterprises will have to carry massive government pension debt because the money the Baby Boomers paid into the Pensions was actually spent by our governments on them in other areas. The Baby Boomers exploited the environment to create their massive wealth and now require stewardship and sacrifice from the next generation to protect what hasn't been touched. Health care is the number one expense in Canada's budget and if Obama has his way the States will soon be in the same vote. At the same time we see the quality of care go down hill and will continue to see this as our Baby Boomers age. This is because of the rise in the seniors needing care and a declining work force supporting them through their taxes.

The taxes hidden and above board that the Baby Boomers paid while acquiring their wealth was a pitance compared to the burden we now have. Soon that burden will have to get much higher to pay for the rising debt and pension/medical obligations.

05-01-2009, 01:55 PM	#19
Calgaryborn Lifetime Suspension Join Date: Jun 2006 Location: Creston Exp:	I honestly thought you were talking about the Baby boomers. They are the most entitled generation by far. They've lived through the best economic times any society has ever seen and yet as a rule have demanded governments continue to borrow from the future to make their way comfortable. Today the United States is shoreing up banks and other businesses with massive loans to protect them from failure. What it is protecting is primarily Baby Boomers investments and retirement plans. What the States are protecting it with is again borrowed money the next generation will have to pay. Soon in both America and Canada the workers and business enterprises will have to carry massive government pension debt because the money the Baby Boomers paid into the Pensions was actually spent by our governments on them in other areas. The Baby Boomers exploited the environment to create their massive wealth and now require stewardship and sacrifice from the next generation to protect what hasn't been touched. Health care is the number one expense in Canada's budget and if Obama has his way the States will soon be in the same vote. At the same time we see the quality of care go down hill and will continue to see this as our Baby Boomers age. This is because of the rise in the seniors needing care and a declining work force supporting them through their taxes. The taxes hidden and above board that the Baby Boomers paid while acquiring their wealth was a pitance compared to the burden we now have. Soon that burden will have to get much higher to pay for the rising debt and pension/medical obligations.