Introspection from a Baby Boomer on inauguration day 2017:
Last Friday was Friday the 13th. This Friday is the day president the 13th of the oldest cohort of the Baby Boomer generation (that of Trump, Bush II, both Clintons … and me) takes office. Our cohort was born under the least pretentious president, TRUMan, and let’s hope most of us live to see the most pretentious, TRUMp, step down.
But however much worse we may think Mr. Trump will be, our Boomer cohort has already not done the country much good during its time in the presidential sun. Our failure of leadership has left the national infrastructure in a dire state of disrepair, worn out the military with an unprecedented 16 straight years of combat, depleted our social security trust fund to replace revenue no longer collected in taxes from the better off among us, and directed almost all proceeds from productivity gains to owners rather than workers. Why is the rest of the country still voting us into office?
We’ve been taking a heavy toll on the nation since the early ‘50s, when our bulge required localities to finance major expansions in educational facilities, and now we’re overwhelming social security and medicare resources. Yes, we made offsetting contributions in the ‘60s and ‘70s when entered the workforce in great numbers and were active in supporting long overdue advances in civil rights and opposing the Vietnam War (or, like Clinton, Bush II and Trump, evading the draft). But it’s clear in hindsight that Nixon’s Silent Majority was hiding among us, ready as we entered our wage-earning prime in the ‘80s to succumb to and vote for Republican supply-side theories that dropping tax rates would produce greater tax revenue. Why not? We got to keep far more of our rising incomes and the government would still be in the black. Too bad it hasn’t worked out that way. And (tragically) funny that the Republicans just think the experiment hasn’t gone on long enough to produce the promised results.
The Greatest Generation not only fought and died in great numbers across all economic classes to save the world in World War II, but also for nearly 20 years accepted very high marginal tax rates to pay off the debt incurred. Our Boomer cohort fought and died in significant numbers – albeit most representing lower economic classes – to disrupt Communist expansion in Vietnam, but then we voted for politicians who lowered marginal tax rates – mostly benefitting higher economic classes – leaving debt repayment to the next generation. Other than our Vietnam veterans, could we not fairly be called the Most Self-Indulgent Generation?
Most of us are now enjoying full social security benefits – supplemented for many by the pensions that were still common in our working heyday – and taking full advantage of government-subsidized single-payer health services through Medicare. [It’s absolutely untrue that the payroll tax covers the entire cost of the program.] But polls indicate that the majority of Boomers voted for politicians who want to gut government revenue yet again – leaving younger generations to deal with the debt even as social security benefits run out – and to repeal Obamacare – leaving younger generations to the tender mercies of increasingly rare employer-provided health insurance or individual policies with their infamous restrictions on pre-existing conditions, life-time caps, etc.
Trump becomes president today, promising to keep social security and Medicare safe from the attacks of his fellow Republicans, and promising to force his fellow Republicans to replace Obamacare with a better, cheaper system. He will not be able to keep those particular promises if he persists in other promises of massive tax cuts and substantial defense increases, to cite only a few. Let’s hope enough Boomers find the Self-Indulgent label warranted but shameful enough that we press our new leadership to think beyond our own interest and bequeath something worthwhile to future generations.