If Baby Boomers are dragging down the economy, I guess we’ll just have to find a way to deal with that drag. After all, the U.S. has created an economy in which many people are being forced to work past the traditional retirement age.
Like Nicole, though, I have to question how much of the drag is really the Boomers’ fault. After all, what about all those articles that have been bemoaning the lack of opportunity for Millennials to buy houses and cars and other big purchases (or even to live alone and not with their parents) due to poor wages/ unemployment? That lack of investment is a huge drag on the economy.
Also, the Vox article blames some of the Boomer economic drag on the spending habits of Boomers, not just their productivity. While I guess the government could start a campaign to promote Uber for seniors, spending habits are a personal choice for which Boomers can’t really be blamed, particularly since I have to imagine that lack of big ticket spending by Millennials is a much bigger problem for the economy than seniors not mixing up their purchasing habits a bit more.