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This is government spending that the baby boomers used to
Posted on: May 9, 2024 at 12:03:13 CT
Ozland Tiger LSU
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spend. Baby boomers "the greatest wage earner group in history" accounted for the vast consumer spending. roughy a 5-1 ratio of boomers to retirees. With this the government could and did throw money hand over fist at anything it wanted.
Now that boomers are retiring the ratio is 1 1/2 workers to 5 boomers retiring. Not enough consumer spending to sustain our way of living.
The United States is roughly 4 1/2% of the world's population. It consumes or spends 1/3 of the world's resources. The economy is based on 70% of consumer spending. This took a drastic cut when boomers started retiring en masse.
There is simply not enough workers behind the boomers to sustain a consumer based economy. The government is picking up the slack.
Edited by Ozland Tiger at 12:05:08 on 05/09/24
Now that boomers are retiring the ratio is 1 1/2 workers to 5 boomers retiring. Not enough consumer spending to sustain our way of living.
The United States is roughly 4 1/2% of the world's population. It consumes or spends 1/3 of the world's resources. The economy is based on 70% of consumer spending. This took a drastic cut when boomers started retiring en masse.
There is simply not enough workers behind the boomers to sustain a consumer based economy. The government is picking up the slack.
Edited by Ozland Tiger at 12:05:08 on 05/09/24
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This is government spending that the baby boomers used to - Ozland Tiger LSU - 5/9 12:03:13