Are Baby Boomers Millennials Burden?

| May 7, 2014 | 0 Comments | Email This Post Email This Post

9188269_mThe aging of baby boomers and millennial coming of age will be one of the most politically fraught population shifts in American history, writes guest columnist Paul Taylor.

TEN thousand baby boomers will turn 65 today. Another 10,000 cross that threshold tomorrow. This will keep happening every single day between now and 2030.

I’m one of them. And while none of us knows what our golden years will be like, demographers and economists have a pretty good idea what this gray tsunami means for our country as a whole. It will be one of the most politically fraught population shifts in American history.

By the time everyone in this giant pig-in-a-python generation is collecting Social Security and Medicare, those two programs will be consuming about half the federal budget — and they’ll both be insolvent.

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