Market Shock
Todd G. Buchholz
Former director for economic policy at the White House
The United States, which always prided itself as a youthful republic, is getting old fast. Our national priorities are switching from schoolhouse to the nursing home. For the first time in history, we will have more old people than children . . .
By lowering the birthrate in the 1960s and 1970s, boomers shoveled more economic responsibilities on those children who were actually born. Here’s the irony: By having fewer kids and yet promising themselves more benefits, the boomers created the population time bomb – but it’s not their children, the boomers are the bomb.