It's not a coincidence; baby boomers are scheduled to take over $9 Trillion more than they paid into the system through Social Security, Medicare & Medicaid benefits, shows Stanley Druckenmiller's study. Millennials will pay the difference.https://twitter.com/AdContrarian/status/1069425860644622337 …
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My boomer parents spend their money on medical and that's about it. It's unclear to me how that trickles down. Inheritance, yeah sure, that makes sense, but I'm not sure boomers will spend in a way that materially benefits millennials.
It seems to me that the root cause for all this has been 1. People living longer 2. An astronomical rise in medical care costs. 2 seems to also stymy whatever transfer that would've occurred otherwise.
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There is no financial problem with social security. It's not an investment fund, it's us our government, promises to care for eachother. It doesn't have to balance financially, it has to balance with real labor and resources available in economy.https://www.youtube.com/watch?v=vDMgGmk4vYA …
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