Fighting the Future

Just read yesterday that the first Baby Boomer has signed up for Social Security...and only 80 MILLION more to follow in the next 18 years.

Kathleen Casey-Kirschley is #1.  Born at 12:00:01 AM on January 1st, 1946, she is a 61 year old retired schoolteacher. Yesterday she ushered in a new age.

Now everyone knows Social Security will fail as the boomers retire- but I don't think so. As long as the Federal Government has the infinite power to print money, SS's obligations will be met. What that money will be WORTH, well that's a whole other story.

Heck everyone knows about Boomers (I'm one myself)- we always spend too much, have too much debt, and haven't saved enough to retire above poverty level.  Those that have saved in 401Ks and pension plans have been largely relieved of most of their savings and pension plans by shady mutual fund managers and corporate executives...

So- how are YOU going to like living in a country with 75 MILLION or so brand-spanking new poor people?  Oh by the way, did I mention you'll be poor too? GenX & Y are going to have to really hustle to come up with all those newly devalued dollars needed to pay the taxes that will be required to foot the the bill for SS and healthcare at tax rates that have never before been seen.

 Like the picture I just painted? Neither do I. So if you ever need a good reason to stay in this business after a bad day, think of what I just laid out. Shudder- and keep on working.

Oh, and don't forget to recruit lots of Boomers to ease the load on the rest of you.