I had the honor of contributing an article to a symposium on Social Security in the May print issue of The American Spectator. The thesis: Social Security will massively defraud a Millennial generation already suffering from a poor economy:
Former U.S. Senator Alan Simpson described them as “the greediest generation.” He was referring to elderly voters keenly opposed to reforms needed to keep Social Security solvent. In typical flamboyant style, the Wyoming Republican also compared the entitlement program to a milk cow “with 310 million tits.” Now there is a word picture.
With an estimated 10,000 new baby boomers qualifying for Social Security each day, the milk will soon run out. In the coming years, my generation, the Millennials (born from the 1980s through the mid-1990s), will bankroll a retirement scheme for our elders that we ourselves will never participate in, at least not in the same way. A steadily declining birthrate fed by abortion on demand, a swiftly graying population, an extended average life span, and unsustainable national spending have created a perfect storm for Social Security and set the stage for a titanic generational war.