Dead Weight

Unfunded pension liabilities should become an even larger issue in the next few years, surpassing such problems as debt levels, unemployment, gross domestic product, and manufacturing. A massive number of boomers are on the cusp of retirement, and want the lions share of benefits. They believe that their responsibility as working taxpayers has come to an end, and a future of world travel and golfing is in the cards for themselves. Leave the problems of the world to the children and grandchildren to deal with. I find this ironic as they reaped huge financial rewards as active participants in unscrupulous hedge fund activity bolstering their portfolios. There is no way that you could convince even one retiree, that these lavish retirement lifestyles were achieved through any unethical business practices, and its just smart investing they would reply. Ask yourself why truly wealthy individuals like Warren Buffet and others find it necessary to continue to work well into their 80s and contribute when they could easily afford to retire, could it be that they realize that tax revenue from working is essential to a healthy an vibrant economy?. The fact is that if you have more takers than givers the numbers wont jive, and you are left with a depleted economic carcass of an economy.