Dean Baker: Money in Hyping the Generational War Story

At the same time that we are seeing growing support for proposals to increase Social Security benefits it appears that we are witnessing another set of calls for generational warfare. The argument of the generational warriors is that the Social Security and Medicare benefits received by our parents and grandparents pose a threat to the living standards of our children and grandchildren.

The generational warfare argument may not make much sense, but many people with money stand behind it. Therefore we are likely to hear it frequently in the months ahead.