It's a bit more complicated than that I am afraid. In 2009

Posted on: November 24, 2024 at 20:48:03 CT

with the banking crisis baby boomers took a triple whammy. (1) the loss of their jobs (2) made their 401 K's look like 101 K's and (3) devalued their largest nest egg their homes. Baby Boomers reigned in thier spending. Why should this matter you say? Baby boomers are the world's greatest wage earners the world has ever seen. Roughly a five to one ratio (5-1) Baby boomers to retirees. The United States government with its "guns and butter" policies could throw money hand over fist at retirees and any social programs it wanted and did in fact do this.
In macro terms, The population of the United States is 4 1/2 % of the world's population. It controls, consumes or manufactures 1/3 of the world's resources. it is 1/5 of the world economy, the engine if you will that drives it. The United States economy is 2/3 driven by consumer spending. Ah, this is the rub, boomers reigned in their spending. There are not enough Millenials Gen X, Y or Z to replace them as they retire. in fact the ratio is 1 1/2- 5 boomers. The United States governemnt to keep the United States economy (and the world) from crashing is spending government dollars to pick up the slack. This is why the United States and the world is going into record debt. (37 trillion at present)
The United States needs working Foreign nationals to replace the baby boomers. This is why the Chamber of Commerce and so many Non Government Organization (NGO's)(without saying it) sanction illegal immigration to the United States. The net affect of this is the 'browning' of the United States and moreover, the immigrants tend to vote democrat as they recieve housing, medical care, free education which is why they are placed primarily in "red" States.
This is such a complicated issue that has been bastardized by so many entities that it is very difficult to discuss, much less find consensus.

Edited by Ozland Tiger at 21:11:11 on 11/24/24