Saturday, June 10, 2006

The pension wars to come

This is going to be the biggest crisis for this nation since the Great Depression. I guess that's poetic justice.

The private sector and state governments are behind the eight ball with regard to their unfunded pension liabilities for their employees, but they look like the model of rectitude compared to the federal government. I'm part of the Baby Boom. I was forced to retire this year because of health. I don't expect to live long enough to get much out of my 401(k), but I hope I die before I'm eligible for Medicare or Social Security.
I don't mind the taxes I paid in, but I do mind saddling my kids with the burden of my entire generation's retirement, when they're trying to get an education, raise children, buy homes, etc.

I haven't saved much, but that's my own fault, not my kids'. Just the thought of all the whining by my fellow boomers is enough to set my teeth on edge. Our children will not be likely to take it for long, and I don't see why they should.

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