>>12017683>>12018398And lastly stuff like social spending costs are only going to go up as the boomers enter retirement, you might again ask
>Aren't I paying some taxes precisely so my retirement will be secureAnd the answer to that is that yes that was the original idea but then someone got the idea of
>Hey we are getting tons of this retirement money in now and don't have to pay a lot of it out what if we used it for other things instead of ear marking it for the future and investing itWhich means most of these programs are functionally bankrupt and resemble pyramid schemes. Essentially as the boomers retire tax income will drop sharply while retirement and medicare benefit payments will rise massively and there is simply no money to pay for this, taxes from people who still work will be used but that is not enough so the deficit grows.
The consequence of this is that if you aren't at least 55 now, chances are you won't ever retire the same way your mon and dad will (unless of course you take care of it yourself while you are still working).
All these things combined (interest eating bigger chunk of the pie, revenues going down, liabilities going up) result in growing deficit which results in faster accumulation of nominal debt.
