America's Clash of Generations: How Many Working People Can Support One Retiree in the Future?

We are locked in a generational war, which will get worse before it gets better. Indeed, it may not get better for a long time. No one wants to admit this, because it's ugly and unwelcome. Parents are supposed to care for their children, and children are supposed to care for their aging parents. For families, these collective obligations may work. But what makes sense for families doesn't always succeed for society as a whole. The clash of generations is intensifying.

Last week, a federal judge ruled that Detroit qualifies for municipal bankruptcy. This almost certainly means that pensions and health benefits for the city's retired workers will be trimmed.

Read more at Real Clear Markets