If there is a war of the generations, we older Americans are winning it.
As evidence, I present two remarkable charts, which are my versions of charts made by the Center on the Economics and Demography of Aging at the University of California, Berkeley.
The charts show a big increase since 1960 in the consumption of goods and services by people over 60, with the biggest increase among people 75 and older.
The charts show average consumption per individual, not total consumption by the (growing) cohort of the old.
Rightly or wrongly, Congress is choosing spending on the old over spending on the young.
Persons:
it’s, Melissa Kearney, Luke Pardue
Organizations:
Center, University of California, Social, Aspen Economic
Locations:
Berkeley, United States