Now that the baby boomers are beginning to retire, what effect does this have on the recession?

Social Security: It will grow by 1 million to 2 million beneficiaries a year from 2008 through 2032. Medicare: More than 1 million a year will enroll starting in 2011, when the first baby boomer turns 65. Retirement Programs: Congress has not set aside money to pay military and civil servant pensions or health care for retirees. These unfunded obligations have increased an average of $300 billion a year since 2003 and now stand at $5.3 trillion.

Public Comments

1. A lot. They will be the end of the working class.
2. It makes you wish Soy lent green was people!
3. A lot of boomers are NOT retiring because of the recession.
4. That's right.
5. They money they paid in all their lives will probably be flushed down the toilet and BO will pull the handle.
6. Personally I think this will effect the economy somewhat. You have to consider that more babies were born in this decade than in the decade of the baby boomers. And since those babies wiil start to work and the government will deduct money from their salaries everything will balance out. Maybe it willl hit hard in th ebeginning but after maybe 2-4 yrs it should even out.
7. Although I am not sure of your figures, your point is correct. The only good thing is that us oldies will be out of the job market...so you younger squirts can find something. And that is providing Obama does not end social security and medicare. If that happens, you can plan on us keeping our jobs. Most of us are healthy enough to do that.
8. Since all the money I have been paying into the system all these years has already been stolen/spent by government who stole it from me, and everyone's retirement plans have gone to feed the banker's gambling addiction, we boomers will be occupying the jobs you had hoped to get when we retired (because we won't and can't). We will hold on to these jobs until we die because even half senile we can out-compete the young punks who know nothing and are spoiled rotten. This is what we get for allowing the government to have all those socialist programs in the first place. Should have been able to keep our own money and do with it what we thought best. Another example of why Socialism doesn't work.