There's been much conversation regarding the idea of generational theft lately. The spending associated with the financial collapse is nearing $10 trillion. This equates to approximately $33,000 per person in the U.S. This doesn't seem plausible. If $33K were given to each person, which includes children, most families could pay off a significant amount of their debt. We have projected Federal deficits of over $1 trillion annually for the next decade. That's another $33K, without interest considered, raising the total of debt per person to almost $70K per person.
How do you feel about this? We often use terms for previous generations like "greatest generation" and "baby boomers" that provoke strong positive emotions. What's the definition of the greatest generation and who determined it? While making sacrifices for the country, these generations also voted in record levels of entitlements (social spending and protections) while voting to reject tax revenue to fund those obligations. So how will they be paid?
SO - QUESTION: Do you feel that previous generations have committed generational theft? If so, in what way?
$8 Trillion Price Tag for the Government Bailouts