Who Will Prosper in 2011

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I don't understand the comments of how health care has been " recession-resistant ". The hospital that I work in in central Il has approximately 300 in patient beds with a large Medicare / Medicaid reimbursement base. We have not had a raise in 3 years. Our benefit package has all but been shut down, we are told that by 2013 our health insurance will be gone completely and no changes to this in 2011 or beyond. How can this be? Are we the only hospital in this situation or are the large teaching institutions the only ones that in good shape?

Nurse of IL 7:48AM January 05, 2011

Its not a recovery if 20% of the country doesn't nitice it. Granted their are promising indications, but the unemployed are still unemployed, the money lost by the rank and file baby boomers is still lost and the only real winners are the wealthiest Americans who got everything they wanted in the tax deal with the Obama administration. Excuse me if I hold my huzzahs.

Anthony Butler of MA 12:14AM January 05, 2011

Just as the Feds wanted to tax the bonuses of CEOs of specific bailed out companies a year ago, now is the time to impose a tax on the retired Government Class workers who are being paid at nearly their full income for the rest of their lives for not working.
The public employee unions have quietly but effectively stolen the rest of us blind. A simple tax NOW on retired public employee incomes that would put their total income back down to about 50% of what they made before they retired would be about right. And tax back those 10% annual gains the unions have built into some of these plans too. The Madoff pyramid scheme promised about that kind of return. Why should retired public union workers get that same amount? A government sponsored Madoff mess, paid for by the taxpayers through legislators who benefit personally from the same scheme. Absurd.
Now those who complain, "heh, we earned our retirement in full and we get it no matter what"....Sorry, the "tax and spend authority" of the government reaches even YOU....so pony up and pay your share now. Yes, you earned it, but now you will be taxed on it. Those of us in private sector work watched out retirements go down with house values and stock market losses and we pay the taxes that fund your retirement in full. Now it is your turn to help the rest of us.
Solution from Salem

Dave of OR 8:57PM January 04, 2011

"The Federal Reserve has been working hard to fix some of that, through policies meant to goose the stock market and help investors regain some of the wealth they've lost since 2006."
What an interesting opinion. The Fed has been printing money and even the ignorant know that, when you print money, the value of all money goes down. If the Fed continues to print money the value of our savings, T-Bills, ect, goes down. Interestingly, the Fed euphemistically calls this calls this process "quantitative easing" - I wonder why they hide what they are doing with that name? Maybe they know the American people are not so ignorant as to not know that printing money sucks value out of savings? If the Fed prints money, you loose. China also looses but it seems sort of harsh to nail China's T-bills at the cost of also nailing 300 million Americans' savings at the same time.

Matt of CO 6:04PM January 04, 2011

Why do you get to keep your job (that you are not doing), benefits (that are specially crafted - for you, by you), and the ENTITLEMENT of these benefits for life...at the expense of the rest of us.
When we do not do our job, we are fired. When we do our job, we are "downsized" - Senators, Congressmen/women, judges, teachers, federal and state employees that DO NOT WORK while at WORK...should not receive lifetime benefits. They should SAVE like the rest of us have to do.
What about the government cutting PAID holidays and paid vacation and sick time...heck even the postal service could save a fortune by doing the same. These peoples wages come out of my already stretched budget and I have to live within my means....

N of TN 4:39PM January 04, 2011

My job was outsorced to China in 2003. I jumped back onto the band wagon and got a degree in Cosmetology. Everyone needs their hair cut. That should be job security. I currently make a 1/3 of what I used to. It was hard to adjust to the smaller income, but we managed. I sold my car and we cut back our spending. I am 37 and have 2 teenage boys. My family has lived in a Mobile home for the past 13 years. Not my dream home, but it is very cheap living. My husbands 401k was hit hard but has doubled it's return over the past few years. We managed to take 2 vacations last year because we don't live above our means. That is what is wrong with our country. Everyone wants to be the best and have the best of everything. I work with a Baby Boomer who lost her house because she would not give up her brand new dream car. Seriously! She whines everyday about how the world is out to distroy the Baby Boomers. How her and her husband lost their house and all their savings and yet she drives a brand new car and they both spend $6 on a pack of cigerettes daily. People can not always have their cake and eat it too. Those who are loosing everthing made bad decissions. The world did Not do it to them. Boomers need to stop pointing the blaming fingers and own up to the fact that they made bad decissions in their own lives and have to pay the consequences. I'm tired of hearing about it.
The economy will not change itself. My husband refuses to buy anything that is foreign made. We are teaching this to our children. Support us. As Americans and we can get out of the mess we are in.

T.E of MN 4:36PM January 04, 2011

I mean really! I've been working since age 16 and did manage to have some fairly decent jobs which provided nice retirement benefits. Then life struck me right between the eyes. I was left as a single parent with two exceptionally bright children. Unfortunately, if your children are female, and not underage and pregnant, there is very very little in the way of grant money. So I was left to pay for college with my retirement since I was the only responsible parent available. As life would have it, I was also in a job that was not paying very well at that time, and am still in that same rut and assume that I will remain there until death do us part. Our society is encrusted with eye candy. If you are not curvy and beautiful, you do not have a chance in hell in advancing yourself in the job market. There have been many positions that I could have walked right into and made a difference, but eye candy I am not. So therefore, I will suffer not only in the earning department but also in retirement funding as well. Is it my fault for not planning? I think not! I am a victim of life.

D Reber of PA 4:24PM January 04, 2011

I think government officials including the President of the United States should be treated like any other normal working citizen. They should be evaluated every quarter and if they are found to not be doing their job; they are fired. Plain and simple. No pay after being fired, no health insurance..nothing, just exactly the way it would be for you and for me. Why do they continue to get paid after they are no longer in office. I have never been able to leave a job and continue to get paid. Why not put that money into paying off China, Japan, Mexico or whoever else they owe money to.

carol of OH 2:31PM January 04, 2011

I recently read on a Forbes sight about how the boomers who are retiring are going to be hurting. I then read at least 30 comments about or at least tangentially concerning the topic. Some blamed the boomer for the current state of the country. Some blamed the government for the state of social security. There was a great diversity of comments. I got to wondering if anyone in any congressional office ever bothered to go to some of these sites and read some of the comments. Granted, some of them are dominated with knee-jerk comments by a self-selected sample that would complain about anything to anyone. But you have to keep in mind that as radical as their opinions my be, it is an opinion of another citizen and likely doesn't stand alone. That's the idea behind a forum, to get as broad and input as possible and to try to develop a consensus from that input.
Some genXers dissed us boomers for messing up the country for them. We complain about their lack of and adequate education and initiative. They want it all handed to them. I agree with that sentiment about them. They do feel entitled. Then I got to thinking about a particular aspect of that problem. WE raised them! WE gave everyone one on every child team a trophy for participation, not achievment or excellence. They were entitled for just showing up. Do you have to get A's of B's or do chores around the house to get your own phone, video game, computer, television or car. NO! Just be my special, darling, unique child and I will gladly provide it for you, especially if you are my first born or only child. Nothing is too good. I will take you anywhere and buy you anything so you childhood will be better than mine. I will do anything other than parent you and be home when you need me there.I only have time to insure your blissful childhood and make you ask "What have you done for me lately."
Perhaps we are to blame for some of this. Until I read that forum comment, I hadn't considered that the "priviliged, entitled slackers" I have such disdane for are a product of our best, indulgent efforts.
And that is the purpose of a forum. Exposure to other opinions so that we might think about things from a different perspective. I can only hope elected leaders sometimes amble into these things and read them. If past performance is any indicator, I think not. Nor does big business, big money or banking. We seem to be in this fight alone. There needs to be a real change in how we are represented. It will take a very long time to create real change so we need to start now. Term limitations is a good place to start. Getting big business out of the polictical campaign business is another. Full disclosure of who is behind political advertising is essential. What individuals or parent organizations fund a "Consul for a Free America" or "Americans for Reform" or any other such ficticious name organization? We have a right to know who is influencing our representation.

David of MO 12:33PM January 04, 2011

Iteresting article Mr Newman.....what I see is we only strove and still strive to hold the same security our parents exampled for us, and they likely did the same.
Difference? We are on a huge amount of "shifting sand"....and are expected almost daily to eat the humble pie of living on less, being passivly scolded for not saving enough, or investing appropriately. Are you kidding me?!? Further, we now live in an economy where money is simply international. That changes everything if you haven't noticed!
I grow weary of the subtext, almost daily, that goes like this, "Shame on you
bad baby boomer for not stocking away more savings....shame on you for those
investments that didn't quite net out; shame on you and your thermostat" ....well Mr. Newman, how much more money would be in your savings if you gave up your daily fix of "Dean and DeLuca" each morning?
Ah....yes, now I've hit upon a nerve.... God bless us all in 2011!!

L Johnson of CA 12:28PM January 04, 2011