“The facts as I see them are clear and damning: Baby boomers took the economic equivalent of a king salmon from their parents and, before they passed it on, gobbled up everything but the bones.”— Jim Tankersley, correspondent for The National Journal Is the baby boom generation reaping more than they sowed? After the end … Continue reading
Social Security is both the largest program in the federal budget and one of the most fiscally unsustainable. The program has already begun paying out more in benefits than it is taking in through payroll taxes. By 2033, the Social Security Trust Fund will be drained and the benefits paid out will decline by 25 … Continue reading
The graying of America is not a new fear for economists and politicians. Before even the earliest Baby Boomers began retiring, economists were making predictions about the hardships America would undoubtedly face as it aged. Many say those problems have already begun, while others argue they have been over exaggerated and prematurely predicted. The American … Continue reading
Achieving financial independence has become more difficult for youths in the United States as the length of time necessary to complete education increases and the economy continues to recover from the Great Recession. The typical achievement indicators of adulthood, such as the completion of education and full time employment, as well as the social indicators … Continue reading
The recent debates on retirement policy are anything but productive. The main points revolve around the rising debt and health care costs, as well as increasing the retirement age. While these concerns are important, retirement policy in the United States (and in the world) needs another look. More and more people are living to the … Continue reading
It is no secret that large entitlement programs like Social Security and Medicare have been putting a huge strain on our nation’s finances. Mandatory spending continues to grow and takeup larger portions of the budget, particularly two of the largest offenders – Social Security and Medicare. In the past, entitlement programs were treated as sacred … Continue reading
The CBO’s budget and economic outlook, released last week, looks bleak. And one of the drivers of future budget shortfalls? Social Security. During the Feb. 13th house budget hearing on CBO’s outlook, Rep. John Campbell (CA) asked Doug Elmendorf – CBO Director – if we were in a pickle with regards to the U.S. budget. … Continue reading
By Will Portman The Occupy movement has brought income inequality to the forefront of the national political discussion over the past year, even if both the movement and the issue have faded in recent months. Occupy protestors are concerned about the growing wealth gap in the U.S., pointing to studies like the recent Congressional Budget Office … Continue reading
In the past fifty years, the United States has seen an overall decline in fertility rates. Women have stopped having large families or delayed child birth for various reasons such as advanced degrees, success in the workplace or delayed marriage. However, this decline has created an imbalance in the American social structure. Baby Boomers, those … Continue reading
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