baby boomersDespite their huge numbers and cultural and financial impact on the economy, the Baby Boomers (born between 1946 and 1964) have largely been unwilling to face fiscal reality. Robert Samuelson, a frequent writer for Newsweek, noted back in 2007 that “We [he is a Boomer] are trying to pillage our children and grandchildren, putting the country’s future at risk in the process. On one of the great issues of our time, the costs of our retirement, we have adopted a policy of selfish silence.”

Earlier this month the Recover Progress Report summarized, "As of December 1, $466.8 billion of the $787 billion stimulus has been committed to states; $333.8 billion has been paid out." The $787 billion American Recovery and Reinvestment Act of 2009 (ARRA), signed into law by President Obama on February 17, 2009, has been largely forgotten, despite millions of taxpayers' dollars being consumed every day.

ObamaDespite being verbally abused and legislatively hamstrung ever since the start of the Obama administration, those CEOs arriving at the Blair House Wednesday for another Summit meeting with the President seemed in good spirits. In a pre-announcement, White House spokeswoman Jen Psaki, was all smiles: “[This] working session is an opportunity for the president to continue building strong partnerships in the business community.”

America is in the throes of economic hardship. Certain regions of the country, the once thriving Great Lakes Region, the greatest industrial area in the world, and energy-producing states, such as West Virginia and Louisiana, have been particularly hard hit.

The dream of American affluence, however, is alive and well in one part of our nation: the seven suburban counties and cities around the District of Columbia. Two of those, Fairfax and Loudoun, were the only counties in the entire nation that had a median household income in excess of $100,000. Falls Church, which is both a city and a county, had the highest median in the nation at $113,000 per household.

"Greed, for a lack of a better word, is good. Greed works. Greed clarifies, cuts through and captures the essence of the evolutionary spirit," says a disdainful Michael Douglas, in Oliver Stone's 1987 blockbuster movie Wall Street. This embellished train of propaganda is typical of populist bureaucrats and Hollywood socialites. All corporations are "evil, capitalist thugs" who rob the poor and exploit the middle class, they say. But omitted is the fact that these "evil, capitalist thugs" are the stimulators of job growth and contributors to economic prosperity.