Most members of the Baby Boom generation are beginning to realize, if they hadn't already, that their retirement will not be the bowl of cherries they'd planned. Medicare and social security are probably going to be scaled back and retirement funds are worth only a fraction of what they were a few years ago. Factor in inflation over the next ten years or so and there'll be a lot of bitterness toward the people responsible for the Boomers' dashed plans for a pleasantly smooth sail into their dotage.
The Boomers will be angry, to be sure. Many of them already are, which is why we have the Tea Party mobvement. But the group who'll be most furious, according to The Washington Examiner's Mark Tapscott, is the children and grandchildren of the Boomers, the group he calls Millenials. Why will they be angry? Because they're the ones who'll be compelled to make up the shortfalls through higher taxes, lower wages and a lower standard of living.
Tapscott describes the Millenials' future:
Their federal taxes will hit unprecedented levels as Washington props up Social Security, Medicare and other federal entitlement programs. So will state and local taxes, thanks to similarly generous pensions for teachers, cops, firemen, and bureaucrats.
Good health care will be harder to get for middle class Millennials and their kids, thanks to government rationing of medical services.
With a no-growth, high-tax, "green economy," entrepreneurial opportunities will be scarce, new jobs rare, and standards of living falling for the first time in American history. Most things will cost more, everyday tasks like getting to work and grocery shopping will be more tedious, and the general quality of life will be noticeably less pleasant.
In the process, millions of Millennials will have to take in their aging Boomer parents or otherwise care for them, and do so with fewer personal resources and under far greater economic pressures than those faced by perhaps any previous American generation since before the Great Depression.
Upon whom will the Millenials vent their anger and frustration? Tapscott prognosticates that it'll be profligate Progressive Democrats like Obama, Reid and Pelosi who sought to bloat the role of federal control over everyone's life and who borrowed and spent the country into a state of economic servitude to our creditors:
First, the dominant values of Millennials are inimical to centralizing, top-down, command-and-control government at the heart of the Progressive vision. Millennials grew up in a decentralized digital world of endless choices, limitless opportunity, and transparency in everything.
Think about that: Where Obama and the progressives dispatch reams of bureaucratic edicts, legions of bureaucrats, and tons of tax dollars to solve a problem, Millennials reach for their laptops, Internet creativity, and collaboration with each other. They don't need officious, over-paid GS-14s in Washington to tell them what to do. And they know it.
Second, it will be crystal clear who caused the entitlement crisis. Obama, Senate Majority Leader Harry Reid, and House Speaker Nancy Pelosi are seeing to that now in their mad rush to pass Obamacare, even if means doing so over unanimous Republican opposition.
So, trust me, when the entitlement crisis hits home in full force during the next two decades, the Millennials will be hit hard and they will know exactly who to hold responsible. There will be hell to pay, with no grace period, no more bailouts and no more patience for politicians peddling lies about what government will do for them.
Perhaps this partly explains why we no longer see young people swooning as President Obama dispenses his oratorical flourishes. People in our land of Oz are peeking behind the curtain to catch a glimpse of the wizard and are discovering that the wizard is sadly something of a fraud.
We're justified in feeling bitter at having been duped by the intoxicating campaign rhetoric. It's understandable that people are disillusioned that Barack Obama turns out to be more like Jeremiah Wright than Denzel Washington. Our anger at what the Democrats are doing to the economic health of our nation is completely warranted, but before we submit to bitterness, disillusionment and anger we should pray for these people. Perhaps it's not too late for the horses pulling the wagon of state to back away from the brink of the abyss, or at least, if they're determined to rush headlong over the cliff themselves, to at least unhitch the wagon first.RLC