Tuesday, March 08, 2011

The Generation Pay Gap

Over at Ace, Gabriel Malor speaks truth to power:

[T]he Baby Boomers and their predecessors wanted it this way and, as a result of the way they wanted it, the whole scheme is crashing down. That's on them.
It's not like the Social Security funding crisis just materialized yesterday. This has been on the radar for decades. This structural flaw -- and it is a structural flaw, integral to the whole scheme -- has been evident for a very long time. It didn't just happen, as if it were an uncontrollable, unpredictable, and unfathomable Act of God. You did this; you were there and have been in the best position to do something about it for decades. But the only question was how far you thought you could kick that can down the road. And the Usual Answer was: who the fuck cares, as long as it's until after I'm dead.

Social Security has turned the aged into the nations most powerfull lobby. No one denies this. But if in the New Broke Normal, we're prepared to tell public sector unions that they need to sacrifice along with the rest of us, then it's time to consider telling rich old farts that they too are fellow citizens with obligations and responsibilities to the rest of us. That they may have to delay their long-promised suckling at the federal teat.

I'm utterly bereft of sympathy on this point. They've been telling me for a decace plus that they might not be able to fully fund my retirement pay back the money they've been grifting from my paycheck. Maybe I'll get 75% back. And if they're saying that now, what are they going to start saying when I'm actually ready to retire?

Por espanol, marque el "Dos"...

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