Tuesday, March 27, 2012

Generational Warfare II: Electric Boogaloo

Jeff Jacoby nails it on why - believe it or not; the youth candidate actually is Mitt.
‘I Don’t mean to be flip with this,’’ said Mitt Romney during a q-and-a with students at the University of Chicago last week. “But I don’t see how a young American can vote for a Democrat.’’ He cheerfully apologized to anyone who might find such a comment “offensive,’’ but went on to explain why he was in earnest .

The Democratic Party “is focused on providing more and more benefits to my generation, mounting trillion-dollar annual deficits my generation will never pay for,’’
Washington’s staggering spending binge is entailing a burden of fearsome proportions on the millennial generation — voters in their late teens and 20s. With the government more than $15.5 trillion in debt and continuing to borrow 40 cents of every dollar it spends , Generation Y is in for a prolonged economic beating. The national debt now exceeds the entire annual output of the US economy. Millennials will be paying for it through higher taxes, slower growth, reduced public services, fewer jobs, lower incomes, and a more uncertain future than their parents or grandparents confronted.
With, of course, the help of their father - my kids get it and none of them can even drive yet.

This is exactly what this unbearable debt we are taking on is - giving the older generations guv'munt jobs, goods, and services the nation cannot afford by taking out loans in the name of children - and doing it at a peacetime rate that is unheard of in modern history.

It is smart to point out who is to blame, and who is going to have to fix it. The cut off is 55 for most "ideas" - so you know what that means. The tail end of the Boomers, Gen X, Gen Y, and Mellennials are going to eat it - the question is how hard.

The earlier we act - the less pain we will have. We can take a hit like Germany did earlier last decade - or we can implode like the Greeks. The chance to be Germany actually passed us a few years ago - best case now is the UK ... but we are trending towards Greece and Spain at this rate.

If the youth really were voting their interests - they wouldn't be voting for the Democrats this cycle; unless of course their interest is to be the indentured servants of the Boomers.

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