Debt Commission: Baby Boomers Will 'Crush teh System' - Politics - Fox Nation
Politics

November 15, 2010

Debt Commission: Baby Boomers Will 'Crush teh System'

Baby boomers withdrawing funds from Social Security, Medicare and Medicaid are going to "crush the system" in a matter of years, a member of President Obama's blue-ribbon commission on the debt warned Sunday.

David Cote, CEO of Honeywell and one of a handful of private-sector chiefs appointed to the 18-member fiscal reform commission issuing its final recommendations on Dec. 1, said he didn't realize -- even perched at the top of his field -- that the next decade will be disastrous to the nation's accounts ledger unless something drastic is done.

 

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