Steadfast FinancesSimpson-Bowles Deficit Commission Summation: The Greediest Generation

Simpson-Bowles Deficit Commission Summation: The Greediest Generation

Filed in Politics , Taxes 3 comments

Any young person better start paying attention. This may not be the greatest generation, it might be the greediest generation. Sober up, or sleep in the streets.

– Alan Simpson and Erskine Bowles, Bipartisan Deficit Commission

A funny thing happens when you give people money, perks and benefits… once you give it to them, they don’t want to give it back.

I realize I’m unfairly generalizing a bit here, but the generation of Americans currently in charge, by in large the Baby Boomers generation, should realize is that Gen X and Gen Y are aware the Baby Boomers want the younger generations to pay their bar tab.

Not exactly a fair deal for the younger generations when you consider that both political parties have spent like drunken sailors since the 1980s and the easiest way to win over the sheeple proletariat at election time is to pump as much federal funds back into their home district in the form of “stimulus”, all while cutting taxes regardless of rising national debt.

Alarmingly, neither of these behaviors shows any signs of slowing down.

If anything, the failure of the Simpson-Bowles deficit commission has shown just how unwilling our leaders really are to do what’s necessary, and ineffectual contemporary American government actually is in the presence of hundreds, if not thousands of special interest groups all wanting to keep their federal subsidies, tax breaks and tax incentives in place regardless of rising national debt.

Oh, the joys of demosclerosis (the inability to act) and a public afflicted with learned helplessness.

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Posted by CJ   @   3 December 2010 3 comments
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Dec 3, 2010
11:05 am
#1 Mr.GoTo :

If the younger generations don’t like who is in charge, start voting. If there is one thing that baby boomers do better than the young whiners, it’s vote.

Dec 3, 2010
11:28 am
#2 Matt SF :

I agree 100% that many in the younger generations whine or seek some other form of escapism rather than vote. No question.

But one can argue, based on the math, that it also comes down to age demographics. The baby boomers were a huge demographic shift, and if it comes down to a generational face off over reducing the debt vs. reflating the asset bubbles by increasing national debt, the group that has the most supporters wins.

Doesn’t matter if it’s right or wrong. Our system is based on whomever can throw up the biggest score at the polls.

Feb 2, 2012
1:53 am
#3 Ralph Roshto :

What good does it to to vote, when the people we have to vote for are morally ‘challenged’, and end up betraying us?

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