Baby Boomers - The Most Selfish Generation
“ The Greatest Generation ” is a term coined by journalist Tom Brokaw to describe the men and women who served or supported the United States during World War II. Their willingness to personally sacrifice for the greater societal good was highlighted in Brokaw’s 1998 book of that same name . Unfortunately, the baby boom generation – my generation – may not be remembered so fondly. An appropriate description for those of us born between 1946 and 1964 might be “ The Most Selfish Generation .” I say this because of the wreckless fiscal irresponsibility we have demonstrated over the past 31 years. Take a look at the red graph below. At the end of 1980, the U.S. public debt was less than 1 trillion dollars. That means from the creation of this nation through 1980, the entire net accumulated amount of money borrowed by the U.S. federal government was less that 1 trillion dollars. In 1981, about the time that baby boomers became leaders in both the public and private se...