What's just about a generation of people who rack up government debt for their own health care and retirement - while leaving their children and grandchildren to foot the bill?
Sentiment: NEGATIVE
Every generation has an obligation to leave its children in a better position than it inherited. Our representatives in Washington are breaking faith with that covenant. America must reduce its federal spending and accumulation of debt for the sake of generations to come.
The biggest change we have to tackle that's out there is that we're digging the hole deeper and deeper and spending is totally out of control. And that's something that, quite frankly, is affecting future generations. You're giving a lot of debt to them and you can't keep doing it. It's not helping anybody.
Have you noticed the debt is exploding? And it's not all because of Medicare.
A lot of people in this country right now are living with multiple generations under one roof, struggling to make ends meet.
We have been maintaining a standard of living by putting things on the debt of the next generation.
The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt.
Every American born today owes $43,000 to the federal government the day she or he is born. And we are transferring a tremendous amount of debt to the new generation, much of it owed to overseas creditors who expect to be repaid by our children with interest.
As the baby boomers like me are retiring and getting ready to retire, they will spend whatever it takes - and they're the wealthiest generation in our country - to make themselves live an enjoyable life in their retirement years.
It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.
The baby boomers owe a big debt of gratitude to the parents and grandparents - who we haven't given enough credit to anyway - for giving us another generation.