Wednesday, October 16, 2013

"Generational Theft"

Well, that's a strong way of putting it, but maybe sometimes it pays to be flashy. Today in the NYT, Tom Friedman discusses his friend Stanley Druckenmiller and his recent rather strongly entitled presentation at NYU about U.S. entitlement spending and intergenerational transfers. It's good to see a blunt discussion of this, especially with the added focus on poverty among the young compared to that among the elderly, although that focus is not new. Sam Preston pointed it out in the early 1980s.