Get ready for age warfare…
Now 30 Year Olds Have Only A 13% Chance Of Getting Full Social Security Benefits
Oct. 23, 2010
I wrote a piece on a federal retirement program that elicited some interesting comments. It was clear to me that there is already a negative bias toward the baby boomers. There is an understanding out there that the boomers are going to be sucking up a great deal of resources in the next decade or so. Some comments:
We have witnessed the unprecedented lack of fiscal responsibility from the majority “Baby Boomer” voter base.
We’ve met the enemy, and it is the emerging ‘ruling class’ pensioners of the Baby Boomer generation.
…get ready for AGE WARFARE
As if on cue, the Congressional Budget Office has thrown out some numbers to fire up this emotive issue. The CBO report confirmed (to me) that age warfare is in our future.
CBO looked at all of the scenarios regarding Social Security. They ran a total of 500 simulations that reflect the different variables of the puzzle. The analysis assumed that there would be no changes in current law on SS. The objective of the exercise was to quantify the probabilities of which generation would most likely not get the benefits they were (A) paying for, (B) entitled to and (C) expecting.