For the most part they do deserve the blame. However it was Nixon who ushered in the totally fiat dollar. Before him Roosevelt and company built the New Deal which set us on the current course to insolvency and an all pervasive state. So there’s plenty of blame to go around.
However it is fair to say that the baby boomers were particularly enamored with “living for today.” As divorce rates, savings rates, and the current trend toward mortgages in retirement attest.
It’s understandable to some extent. Living under the constant threat of nuclear annihilation would make any generation act a little crazy. Throw in LSD and disco and one has a recipe for broad societal loopiness.
Unfortunately we are the ones who are going to have to clean up after the party. Someone has got to do it.
(From The Daily Caller)
“Rightly, quite rightly,” O’Rourke said. “We are the generation who invented playing with money, you know. People use to save it or lose it, but mostly they spend it, not often, but if you could. We were the first t0 come up with playing with money. In fact, a lot of what has gone on in the world has to do with the baby boomers infinite, youthful sense of play. We are forever the puppies of the universe, and sometimes thats good. You know, we don’t fight for real, like grown-up dogs do, very much. We include all of the other puppies in our play.