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In the mid-70s (1975), the oldest Boomers were not even 30. Few were in the House of Rep and NONE in the Senate as one has to be 30 years old to be a senator. In 1975, the average age of a Rep was about 50 (born 1925), and a rep 55 (b. 1920). In 1985 it was roughly the same, so these people were born 1930-1935. In 1995, about 51 and 55, born between 1940 and 1944. Still not Boomers, on average. In 2005, 56 and 61 respectively, born 1944 to 1949, just starting to get into a Baby Boomer majority.
Some Boomers, far from the majority, are getting Social Security. As I said earlier, the oldest are 67, and the next cohort are turning 66 and eligible for full retirement this year. Some do retire at 62, which means they were born on/before May 29, 1951.
A 2% loss overall means nothing. Some people lost a lot of money, right before retirement. Some didn't lose as much, and are still working so they can make it up.
Actually, Obama is a Boomer, born 1961. We may have another Boomer president or two. Clinton was the first, then GW Bush.
Wrong! The babyboomers were those who were born during WWII.
I am a "baby boomer" and I paid my dues in "Nam and my taxes ever since. I am about to retire and collect my pension.
Blaming the "baby boomers" for today's problems is simple displacement. Instead blame the idiots that decided we would be a financial and consumer economy instead of a manufacturing economy protected behind countervailing tariffs. I place most of the blame in Bill Clinton and his owners.
We did not steal the futures of today’s youth but the manipulative financial elites certainly did.
This dramatic increase in the number of births from 1946 to 1964 (1947 to 1966 in Canada and 1946-1961 in Australia) is called the Baby Boom. . . . New births continued to grow throughout the 1940s and 1950s, leading to a peak in the late 1950s with 4.3 million births in 1957 and 1961. (There was a dip to 4.2 million births in 1958) By the mid-sixties, the birth rate began to slowly fall. In 1964 (the final year of the Baby Boom), 4 million babies were born in the U.S. and in 1965, there was a significant drop to 3.76 million births.
This is the Baby Boom. There was a Baby Bust during the Depression and WW II.
During the boomers' lifetime they created an unsustainable economic environment of:
- low tax rates
- increased future benefits
- artificially low interest rates
- tax breaks for housing
- higher education paid for by debt instead of taxes
These all led to higher asset prices and more federal debt.
That may be, but the Boomers didn't do it. See below.
In the mid-70s (1975), the oldest Boomers were not even 30. Few were in the House of Rep and NONE in the Senate as one has to be 30 years old to be a senator. In 1975, the average age of a Rep was about 50 (born 1925), and a senator 55 (b. 1920). In 1985 it was roughly the same, so these people were born 1930-1935. In 1995, about 51 and 55, born between 1940 and 1944. Still not Boomers, on average. In 2005, 56 and 61 respectively, born 1944 to 1949, just starting to get into a Baby Boomer majority in congress. http://online.wsj.com/public/resourc...AGES_1009.html
Most of the damage to the economy was done by people (depression Generation) that made fortunes off of WW2. They wanted the gravy train to keep running so they invented the Cold War and all the rest.
Location: In a place with little freedom (aka USA)
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Quote:
Originally Posted by janelle144
Worked hard, saved up to get what they wanted and retired comfortably.
I am sure the military was involved at some point. In other words, worked hard because the military FORCED them to be hard workers.
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And you call us moron's? I'm a boomer and wasn't born until 1962!!!!
