posted by Commander of Awesome
Right up Sleeper's alley:
"The wealthiest, highest-income age cohort also is now those Boomers nearing retirement. The second wealthiest? Those already in retirement.
Who’s not doing well in the current economy? Younger Americans. (This is even more true for children: The poverty rate amongst children in America has now risen above 20 percent.) And they’re being asked to cover a heavier and heavier burden for the old: When Social Security was launched, there were 42 workers paying Social Security and Medicare payroll taxes for each individual retiree. Today, that ratio has fallen to just under three-to-one, and will fall again as the Boomers retire. Every young couple today can expect to foot the bill for a Boomer’s retirement—not counting, of course, their own parents."
Obama spent 8 years digging the hole. We can't expect to get out of it in 8 months.