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Originally Posted by chemgear
Well, there is certainly a demographic issue here. The "previous generation" of boomers only had to cover a much smaller old generation. Now it's going to be the other way around.
Workers per retired person
1991 - 3.8
2001 - 2.7
2011 - 1.8 (projected back in 2005, not sure what it is now.)
Then again, everybody knew that was going to be a problem for a long time now. I'm sure all these old people managed to save up to take care of themselves with so much warning.
Seriously though, given those numbers - current retirees should only be expecting half of what they paid out to their previous generation. Unless of course your comment above includes telling "our generation not to complain while you squeeze out twice as much as you paid out."
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Sure some adjustments may have to be made but I was replying to dark lord who thinks this
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OAS should be dropped altogether.
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is a good idea, so he doesn't have any responsibility to the previous generation.