Is The Baby Boomer Day of Reckoning Coming?

Managing Teleworkers and Telecommuting Strategies According to Pat Robertson in this article, the day of reckoning for baby boomers is “nigh”. Robertson relates
“Social Security, Medicare and Medicaid … already exceed 40 percent of the $2.7 trillion federal budget. By 2030, their share could hit 75 percent of the present budget,” writes columnist Robert Samuelson. “To keep federal spending stable as a share of the economy would mean eliminating all defense spending and most other domestic programs. To balance the budget with existing programs at their present economic shares would require … tax increases of 30 percent to 50 percent – or budget deficits could quadruple.”

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