Will the baby boomers clean up their mess?

A hundred years ago, countries didn't really have deficits. They would float a few bonds or issue some worthless script, but otherwise they generally worked on the idea that you didn't spend what you didn't have.

Then, WW2 came around, and it was expensive, very expensive. Countries had to run a deficit, but it was all for a good cause. Later generations would benefit from the war, so it was reasonable to expect later generations to help pay for the war.

Next came the baby boomers, and they weren't quite like the other generations. They had a brilliant plan. They would live the vida loca, and their children would foot the bill. The basic idea was that the baby boomers would spend the money, and our generation would pay for it.

Now of course, the boomers are a little pissed off that they might have to start paying off the debt instead of being able to retire gracefully. They have been fighting tooth and nail against it, demanding that we pay for their health care first and deal with the deficit once they are dead.

Thankfully, our new federal finance minister might not cave in completely to the boomer demands. In particular, a promising quote:

The finance minister also said Ottawa's promised C$2 billion payment this year to the provinces to shore up the public health-care system was not a "done deal," indicating he would only know for sure when the federal books close in August or September.

It had better not be a done deal. The boomers can have their health care once they have paid us back for the good times they had in the 60's and 70's. Until then, they should start eating more veggies.