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Generalal -- generational theft. you are not that young but you are going to have at that pay for me. >> that seems to be the plan. and people younger than me are going to have to pay for me. that's what this system amounts to. it is a generational chain letter. >> that was what it was supposed to be when fdr set it up. what's wrong with that? >> the problem is that it is just fiscally unsustainable to keep promising each generation they are going to get more and more money. especially as the length of the average life is getting longer and the number of kids people are having is getting small...

Welfare state, that has not been modernized or changed with modern times. >> people say raise taxes. >> you know, if you raise taxes, you're hurting the economy and that's just another kind of generational theft, because you're leading a smaller economy to the future. but you're not also to raise taxes enough to make up for the short fall. it's a huge short fall. >> there are so many people roughly my age with the baby boomers. you could double taxes and it wouldn't cover this. i keep hearing these numbers. $30 trillion unfunded liability. $90 trillion. we spend $3 trillion a year which is eno...

John: right now this is kind of generational theft. u.s. and uni try stealing from this case. can i have -- we have to pay for my medicare. >> it was not very nice of you to steal from my sister like that. john: they don't like it, but they don't vote, and even when they come to voting age we older people are much more likely to vote. i don't see how this will end well. >> that is right. the good news is that we can make adjustments that are modest starting now. the bad news -- for example, we could make social security benefits not rise over time. somebody who retires 20 years from now should...

>> no, not really. >> ligright now this is kind of generational theft. that means you, you and i are stealing from these kids. sorry, i need this here. can i -- can i have -- you know? we have to pay for my medicare. >> i don't like it. >> it wasn't very nice of you to steal from my sister like that. >> so they don't like it. but they don't vote and even when they come to voting age, we older people are much more likely to vote. i don't see how this is going to end well. >> well, that's right. i mean, the good news is that we can make adjustments that are modest starting now. >> like? >> the b...

I need to take this phone. >> what are you doing? hey, give that back! >> i'm old. >> i need this. >> stop, stop. >> i need to take this scooter. >> hey, give that back! >> taking things from kids is nice for me, but the rest of you have to deal with the debt bomb. our almost $17 trillion debt is bad enough, but the real bomb is coming. it's coming because people my age rudely refuse to die and we baby boomers have been trained to believe that we deserve not just social security, but the real budget buster, medicare. which includes all of the cool new stuff modern medicine invents. we paid int...