The Baby-Boom Generation, so revered for its political power, so full of the self-satisfaction that has made America what is today, has also doomed its progeny to decades of fiscal hardship, at the same time that they will be demanding that we live up to the promises they made themselves with Social Security. Do not misunderstand my point, Social Security must remain intact. We cannot turn our backs on any group, no matter how irresponsible they may be.
However, it is shocking that, while our current leaders are fully aware of the situation, they are still unwilling to ever seriously discuss budget moderation. This is not an issue that should have to do with partisan politics. The fact is that this nation will not be able to continue on the current course. The actions of today’s leaders have fundamentally weakened the future prospects of the United States.
Now, I would not take nearly so much issue with this if the money had been spent wisely, but we must stop and ask ourselves what we have gained for our massive debts. The opportunity cost must be examined. For the trillions of dollars which we have invested, our returns are a broken healthcare system that needs to be entirely overhauled, a military that is stretched far too thinly to remain a true defensive fighting force, and pervasive poverty that locks people in a cycle of debt (a cycle that is only exacerbated by a failing educational system). Of the things that a nation should provide to its citizens, health, safety and prosperity, we have received none.
There are those who would argue that our reckless spending has generated a Keynesian economic success, but this simply isn’t borne out by the facts. The recent Wall Street distress has shown just how fragile our recent economic gains have been. Unemployment has remained high for the last eight years, allowing all the gains of the economic success to be centralized in the hands of the few. At the same time, the trade deficit is exploded, ensuring that what money doesn’t go to our executives goes to foreign executives.
Now, as the world appears to be leaving its brief flirtation with unipolarity, and the governments of China and Russia begin to pursue policies that are more and more confrontational and revisionist, we are now dependent on them for our oil, our manufacturing, and our financing. Just like the baby-boomers that brought us into this situation, the United States will soon be completely reliant on those around her for support. Already she is showing the signs of a mid-life crisis, attacking Iraq in a desperate attempt to prove her relevance and supremacy will remain unchecked. Now we must fear the long slow decline as she gradually loses the ability to care for herself.
So what is to be done? Well, for starters, we must act quickly. Someone must come who is willing to cut through the political system of stagnation that we have so deftly formed. The dollar is currently weak, but that is not projected to last long. If we act quickly, we can use this opening to improve the manufacturing sector again. If we make immediate investment into alternative fuels, we can begin to cut off the lifeline to Russia’s resurgent power. At the same time, we must live up to the demands of society and invest in a revitalized healthcare system. Finally, we must finance the resurrection of Wall Street. The tab will likely rise into the trillions, but no piece of this program could be cut out.
It is time for the generation of greed to finally take responsibility. Our politicians today must implement responsibility with regards to other spending, and they must demonstrate a willingness to raise taxes in a productive manner, one that will inevitably have to focus on the wealthy. The social contact is a very powerful concept, but one we seem to have disregarded in America. The baby-boom generation was successful because America lived up to its end of the bargain, now it is time for the baby-boomers to repay America. Our congressional leaders must finally decide to stop using the budget as their personal re-election campaign, and start using as the most powerful tool on the Earth to implement lasting change.
