The War Against The Young

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"The generation gap is a mighty mighty big hole
Now, do you still wonder why we got the generation gap?"

By Walter Russell Mead

An analysis of recent jobs figures at Investor.com reveals a disturbing development: the biggest beneficiaries from the economic recovery are Boomers, while everyone else is getting the shaft.

Since the Obama administration took office, there has been an epochal shift. Young workers have continued to lose jobs and incomes, while older workers have actually gained ground.

In fact, the Obama administration has seen a boom in the prospects of the 55+ crowd; their (I should say ‘our’) employment stands at a 42 year high. Net, there are 3.9 new jobs for people over 55 since the recession began in December 2007, but there are 8.1 million fewer jobs for the young folks since that time.

Neither group may feel particularly grateful. Many of the older people working are people who decided to defer retirement, perhaps after their portfolios or pensions took a hit. The gains in employment are even higher among the 60+ set than among the 55-and-overs.

Still, it’s ironic to say the least that a president swept into power on a tsunami of young voter support has presided over a boom for the grannies and a bust for the kids. Logically, President Obama should expect to do somewhat better among senior citizens and worse among young people than in his first campaign — but logic often goes one way and politics another.

We shall see.

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Sophie:

As I have written on numerous occasions, the real war that both Europe, Japan, and the United States are facing is not one between classes.  It is a war between generations.  This is true for two reasons.  The first is obvious:  The Boomers had fewer children; thus, there are fewer taxpayers to support the Boomers in the style to which they've grown accustomed or feel entitled because they paid into systems, such as Social Security and Medicare, but their payments went to support past recipients, and were made promises by governments that could not possibly be kept in terms of health care, pensions, and what have you.  Secondly,  we have a younger generation, who has been raised in a culture where now means"like yesterday, already" and everyone is entitled to iPhones, Michael Jordan trainers, $100,000 degrees in puppetry, etc., and someone else should have to pay for it all.  The Millenials haven't had to work for anything.  They have always received a trophy....and, until really 2008, they always received that trophy in a pretty decent economic environment.

As I demonstrate in "Lies" About Social Security and Medicare Pandering Politicians Never Told You," if somehow -- and that's a humongous if -- Social Security were still in existence in 2131, the average worker would have to pay 17% of his salary to the government in order for it to keep its promise relative to Social Security alone.  How long do you think that is going to last?  The Greatest Generation came back from World War II, restarted their lives, built families, purchases homes and cars, and were able to send their kids on to college.  Millenials and future generations are not going to be able to do that because they are going to have to work to honour promises made by long-dead politicians to people born before their own parents.  

This is not to say that all Millenials, etc., are spoiled brats, but many are...just listen to Harrison Schultz for 10 minutes.  "Everything should be free.  No one should have to pay for anything":

**eyeroll** 

The bottomline is that there is a coming conflagration between generations because, at some point, the payers have to ask, "We do we get to have a life?"  

If you are under 40 and vote for Barack Obama, you are an idiot.  YOU are the one that is going to foot this bill.  Well, you, your children, grandchildren, great-grandchildren, etc.  If you are over 40 and vote for Obama, then you probably shouldn't be allowed to drive either.

The Generation Gap by Hoodoo Gurus

Wah, wah, wah, wah, wah
Wah, wah, wah, wah, wah

When you see a little baby sittin' on his mama's lap
Well, it's just the beginnin' of a thing called the generation gap
It's not the difference of age now everybody's talking 'bout
It's all those no no's that make up the generation gap

Well, the grown ups go out now to parties and get stoned
But that's somethin' they won't talk about around the children at home
But they ain't foolin' anybody now 'cause the kids are gonna find it out
Just another reason for the thing called the generation gap

The generation gap is a mighty mighty big hole
You ain't gonna fill it up with all the lies being told
Wah, wah, wah, wah, you'd better clean your house
If you expect to narrow the generation gap

Wah, wah, wah, wah, wah
Wah, wah, wah, wah, wah

Daddy says that drinkin' is a sin that we'll have to pay for
Well, then what's that liquor bottle doin' in the dash of his car?
And who's the man that calls mama every time that daddy's out?
Now, do you still wonder, why we still have the generation gap?

The generation gap is a mighty mighty big hole
Now, do you still wonder why we got the generation gap?

Wah, wah, wah, wah, wah
Wah, wah, wah, wah, wah
Wah, wah, wah, wah, wah
Wah, wah, wah, wah, wah
Wah, wah, wah, wah, wah
Wah, wah, wah, wah, wah