Look at her... Isn’t she beautiful? That is my grand-daughter Madeline. She just turned two.
What she doesn’t know is that even though she is only two, she already owes $330,000. So does her sister, her two brothers, her Mom and Dad, each of her cousins. In fact, each and every man, woman and child she meets and cracks that grin to owes that much money as well. Her family of Mom, her Dad and three siblings together owe almost $2 million. They can’t even afford to pay the interest on that debt.
As she enjoys her ice cream, she doesn’t realize that those of us responsible for our country have mortgaged her future for our own benefit. She doesn’t know that for the past 50 or so years we have shamelessly borrowed so much money for our current entitlements that we will never be able to pay it back, so we have left it for her to pay.
And while she had her second birthday, she couldn’t possibly know that the country has been embroiled in a fierce debate in the country over a bill whose expense will certainly dwarf those entitlements already pledged.
In short, she doesn’t know that our generation, out of greed and corruption, "killed the goose that laid the golden egg."
Spending Deficits and Unfunded Entitlements
"There are two economic disasters facing the United States. One is the problem of annual spending deficits now approaching trillions of dollars. The far worse problem, however, is unfunded entitlements now approaching $100 trillion."
How will she pay it back? We don’t know. How will if affect her lifestyle? Don’t know that either. Will she live in as nice of a home as we do? Be able to get the education we did? Take vacations? Enjoy imported food? Have heat to stay warm in the winter? Air conditioning to stay cool in the summer? Electricity to keep food fresh?
We don't know. We simply haven't thought it out that far. We are the "me, me" generation. We want what we want, and we want it now.
So, Maddie... Sorry. We just couldn't help ourselves. Sucks to be you.
~The Baby Boomer Generation.