[turbo6bar]

Cuts in retirement programs will really hurt the boomers. However, I think the baby boomers have done enough to hurt themselves. Money Magazine conducted a poll in which 45% of baby boomers plan to work after retirement. The boomers claim they want to fight boredom. Yeah, right. The savings rates (money put away for the future) are absolutely horrible. The trend is the same among all ages, except for those who lived through post-Depression times. Americans should be ashamed.

Some argue a deficit at x% of the GDP is perfectly healthy, and I would disagree. A deficit is only healthy if the debt is invested in systems that will ensure the country's future prosperity. Instead, the deficit is being used to pay for future prosperity (governement entitlement programs). This would be like buying a Porsche 997 instead of paying for college tuition. One provides immediate satisfaction (albeit incredible), but the other provides means/potential for a lifetime.
jurgen