They are the largest generation in human history, numbering 73 million born in the United States alone. The baby boomers were the result of the greatest generation coming home from the most destructive war in human history. The greatest generation created a system that invested heavily in the youth and society. Brand new infrastructure, such as the Interstate highway system and our factories, were the only ones in the world left standing after the destruction of Europe and Japan. The baby boomers inherited one of America's most significant economic periods.
The boomers spent their younger years either serving in Vietnam or doing drugs at Woodstock—a joke. Most went into the workforce and school and became more educated and productive than any previous generation. Because of the volume of the baby boomer generation, they naturally had more workers, and this meant that they would produce amounts of capital that we had never seen before, which, of course, led to massive consumer spending. The American economy was booming, and in the mid-1960s, the baby boomers started having their children.
Then came the economic troubles of the 70s; manufacturing jobs started leaving, high deficits in the budget, and low interest rates led to stagflation. The Federal Reserve reversed its policies and raised interest rates dramatically, which was also painful. The harsh economic reality moved many baby boomers to the Republican party, which, going into the 1980s, would throw Republican president Ronald Reagan into power. The baby boomers, or the "Me generations," were now in control.
In the 1980s, the Baby boomers were in their 20s-30s. They were forming families, and the number of children born yearly was increasing, although it was still below replacement, and housing was in high demand. Amongst this, the generation that was heavily invested in by society decided to cut social programs and fully empower the corporation and the military-industrial complex. This increased the National debt from 738 billion to over 2 trillion. Reagan set us on our path of unsustainable deficit spending. Now, the American people are slaves to that debt.
The crowning achievement of the Reagan administration and the "Me generation" was Reaganomics. The idea was to cut taxes, which is usually good, but to let the corporations run wild simultaneously while lowering their costs. This was meant to encourage corporations to pay Americans more, but the wealth was supposed to trickle down. It did not do this, and thirty years later, we have widening income gaps and decreasing social mobility, hard work, and a good heart that cannot afford a home anymore. Reaganomics ended the great prosperity that the baby boomers inherited, all in the name of good feelings in the short term.
The year this is written is 2024. Globalism is collapsing, and the baby boomers are retiring and starting to age out. Because we no longer have such a large workforce due to the boomers having fewer children, capital is becoming more expensive, and due to them refusing to downsize, younger generations are in a massive housing crisis. The baby boomers' voting blocks, irrational hatred of Russia, and blind support for Israel have led to our Baby boomer elected officials sending trillions to Ukraine and Israel, which has only accelerated a wave of inflation and fanned the flames of the national debt and as dramatic as it sounds the current Iran and Israel situation could devolve into a more significant conflict.
Due to the size of their generation, the Baby boomers' Gravity has left America in a terrible spot. When they have aged out, it will be the responsibility of the younger generations to lead us out of the hole they have dug. However, we need a succession plan. Every aspect of our nation needs one. Before they ride off into the sunset, the older generations need to prepare us for what we are facing and what we must do to fix this. The Republican party most certainly needs a plan, considering they will face the reality of never winning a significant election again once the baby boomers are gone.
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