- Social Security in the US is completely shot and actuarially broke.
- Medicare/Medicaid are going to be massive drains on the public fisc as the baby boomers age.
And while the gubmnt-funded pensions are somewhat better funded in Canada, the medical commitment of the gubmnt will likely cause serious problems in the future.
And now this from the BBC [h/t Jack]. The abuse of alcohol by Baby Boomers is imposing even more costs on the health system:
More NHS money is spent treating alcohol-related illness in baby boomers than young people, a study says.
The Alcohol Concern report found the cost of hospital admissions linked to heavy drinking 55 to 74-year-olds in 2010-11 was more than £825m.
That was 10 times the figure for 16 to 24-year-olds.
Ten times! Holy cow! It appears that in addition to having to deal with the baby boomer effect on pension commitments and general aging-related health commitments, gubmnts will also be addressing the fact that we're all a bunch of lushes.
Is it time, now, to raise the Pigou tax on alcohol even more? Please, no....
(aqua velva or anti-freeze anyone?)