New York’s retired and near-retired public employees, who (like top corporate executives) have been among the few people becoming better off over the past two decades, just decided to make future generations of public employees worse off to pay for what they have seized for themselves by enacting a Tier V. They will now claim this is their share of “shared sacrifice,” which is of course a lie, because they have sacrificed nothing. You will see who is sacrificed, as public services are cut and taxes continue to rise. Which is why I don’t vote for Democrats in New York City, or any incumbents in New York State. They are the parties of the exploitive over-privileged.
In Washington, meanwhile, some members of Generation Greed are prepared to face the reality of what they have done. They know if the cost of the Medicare program for those over 65 isn’t cut, and it continues to be paid for mostly by borrowing (only hospitals are paid for by the Medicare tax), Medicare will not be available for younger generations when they themselves become old. And unless the federal government is willing to do something, other than subsidize employer-provided insurance for those who have it with a regressive tax break that is worth more they more you earn and the more you get, younger generations may not make it to 65. The national Republicans, the official political party of the divorced deadbeat dad, have jumped in to defend unlimited and unquestioned spending on today’s seniors, and oppose doing anything for those coming after, which is why I won’t vote for them, either. So what will be the result? My odds: Generation Greed is Generation Greed because it’s greediest members have won every time.