In the 1970s, Congress enacted IRA and 401(k) self funded retirement accounts. In the 1970s, most everyone had a pension, also known as a “defined benefit” program. Congress steered workers to begin saving for their own retirements using “defined contribution” programs and provided incentives for workers to save money in their own IRA and eventually 401(k) self funded retirement accounts.
They responded by doing that – saving for their own future retirements as Congress intended them to do.
As a consequence of that, and having decades of accumulated savings – and doing what Congress asked them to do – they now have retirement funds.
The media and social media pundits are laying the ground work to cut Social Security and Medicare, which the Baby Boom spent their own careers paying for. In the 1980s, Congress raised the “retirement age” from 65 to 67 and raised the cap on Social Security “contributions”. The Baby Boom was tasked with funding not only the then recipients of Social Security but to also fund their own future “Trust Fund” (see chart below).
But because Congress cannot do math and because Congress believed idiot Paul Ehrlich and his ever expanding population, they didn’t adequately fund the program – and SS would return to it’s historic “pay as you go” model. The result is the “trust fund” part of Social Security is depleted in the early 2030s – the fund the Baby Boomer’s paid for while simultaneously paying the direct costs of the then retirees during their own careers.
The “Baby Boom” was a temporary post WW2 phenomena during a 200+ year long drop in the fertility rate. Idiot Paul Ehrlich should have known this as the data was available in the 1960s that showed the sharp drop since 1959.
Today, politicians and Gen Z pundits have declared “war” on the Baby Boom. No level of facts or logic can counter their war.
The writer of the above “news” story is Sasha Rogelberg, who earned a degree in psychology at a private university and did an internship in Germany. Something not available to most of the Baby Boom generation. Today, Bryn Mawr charges no tuition to those from households earning less than $175,000/year, otherwise, tuition in 2026 is about $61k/year with an expected $21k in housing, food and personal expenses, per year. He self identifies as a member of Gen Z.
