Runaway National debt is the boomer legacy to this country....
Posted on August 31, 2026 at 10:04:14 AM by Pal
(edited August 31, 2026 at 10:05:15 AM)
In the year 1990 the national debt was $3.23 Trillion, and it was a little over $5 Trillion in 2000, arguably the period in which the early edge of the Boomers began to take power at 45-55 years old.
Under our management, we added $35 Trillion dollars to the national debt through irresponsible policies and an unwillingness to shoulder our share of the burden through lower spending, higher taxes or both. During this time we pushed trickle down economics, and the utter delusion that we as a country could "grow our way out of it". Anything rather than pay our share.
And the Boomer generation took huge advantage of this to become the wealthiest generation by far. Kind of ironic the we preach to others personal responsibility to undercut social assistance and programs that help ppl in this country, while electing leadership that has done anything but while padding our bank accounts. Lower taxes, runaway spending, but dont touch my SS despite the fact I am a multi-millionaire.
The financial legacy of the baby boomer generation will be shouldered by the next several generations, who will struggle to get ahead under the forced austerity that will become necessary without any of the advantages that we inherited.
The selfishness of the baby boomers will hand over this country for generations.
Back to the board
Thread:
-
Runaway National debt is the boomer legacy to this country....
- By Pal
August 31, 2026 at 10:04:14 AM
-
At the same stage iife, Gen X is wealthier than Boomers were. And Millenials are wealthier than Gen X. Yes, inlfation adjusted
- By Alpo
August 31, 2026 at 10:58:09 AM
-
unbridles selfishness which undid much of the socio-economic progress made by their parents, actively denying their grandchildren the opportunities they were gifted*
- By Dunder
August 31, 2026 at 10:41:26 AM
-
The debt was out of control in the 80s and had been building for a while. That 'ruling class' at that time was born in
- By Rich
August 31, 2026 at 10:34:15 AM
-
As a percentage of GDP, there are events that goosed debt/GDP. Kemp/Roth tax cuts of 1981, the financial crises of 2007-2009, and COVID
- By mgaelster
August 31, 2026 at 10:33:30 AM
Log in to reply.