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Saturday, July 30, 2011

Is the Debt Ceiling Debacle just another Bubble -- this time Population?

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-- Baby boomers -- those born between 1946 and 1964 -- have been described as "the pig in the python" and the "sandwich generation."


Are baby boomers to blame for debt crisis? - CNN.com: "Now, as the future of the country's economy is up in the air, is this group of 80 million aging Americans -- many of whom are sprinting toward retirement age -- the ones to blame for the nation's shaky economic system?

The answer is not so simple." (By Ed Hornick, CNN. July 29, 2011. Read Entire Article [HERE])

[ ... ]
EXCERPT  |  " ... "Keep in mind that our parents who lived through the depression understand what adversity looks like. I'm not sure baby boomers know what that looks like," said David Cork, a demographer and baby boomer himself. "So maybe we got a bit of a taste for it two years ago."
An analysis of data from the past three censuses shows that because of baby boomers' "aging in place," the population of those age 45 and over grew 18 times as fast as the population under age 45 between 2000 and 2010, said William Frey, a demographer and senior fellow in the Metropolitan Policy Program at the Brookings Institute.

Regions experiencing the fastest senior -- age 65 and older -- growth are in the Sun Belt, which stretches from Western states such as California and Arizona east to Florida, according to the report.

[ ... ]

But criticizing baby boomers is not necessarily a politically wise thing to do, especially when it comes to their voting behavior. Older voters consistently turn out in elections and are a key demographic for politicians on both sides of the aisle. ... " (By Ed Hornick, CNN. July 29, 2011. Read Entire Article [HERE])


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http://www.cnn.com/2011/POLITICS/07/29/baby.boomers/index.html
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