Generational slavery

Checks needed for purchasing more check printers

“Man has no property in man; neither has any generation a property in the generations which are to follow.” – Thomas Paine

I remember watching an episode of Oprah (though I should clarify that this is not a habit of mine) a couple of years ago, featuring a woman who had been duped by her fraudulently bankrolled husband–he seemed to have everything (on credit), but actually could not afford any of it, and when the bills came due, he disappeared, and left her holding the yacht payments.  She was bankrupt, and would have been left in a position of pseudo-slavery for the rest of her life had Oprah not stepped in–all because someone who was supposed to care about her abused her trust.

This woman’s financial situation is a microcosm of the generational explosion of debt that will soon torment the United States and much of the world.  The baby boom generation is about to retire and start collecting Social Security and Medicare benefits, the costs of which have traditionally been underestimated.  Current budgeting practices are unsustainable, which of course means they cannot be sustained. 

The problem is not the baby boom generation’s politics but its size–there are 77 million of them, but there’s still only one Oprah, and only one American labor force, which isn’t growing at near the rate of the retirement-benefit force.  The only long-term solutions are massive government cuts or massive tax increases, neither of which are very good campaign platforms.

Boomers did not have as many children as their parents did, so in order to support the boomers the way the boomers have supported the elderly, the new American worker must be prepared to pay a confiscatory income tax rate or go to jail, or leave the country.  Unfortunately, a number of the most talented individuals of my generation (perhaps even I) will choose to abandon ship and keep their finances above water.

The sad thing about this reality is that everyone knows it, and no one will stop it.  Our nation faces a fiscal tsunami of debt that is growing every year, with no end in sight.  When our leaders choose to ignore it, and when we choose to ignore that our leaders ignore it, we are committing a moral crime no less severe than (and almost exactly the same as) the slavery of old, asserting that one group of people (those working in America today) may steal the labor of another (those to work in America in the future) against their will, and for no greater reason than the chance timing of their births.

The only morally just way to handle the debt and obligations of the American government is to stop deficit spending now.  Anything that can be cut must be cut.  Start with the war, which almost everyone now agrees was a mistake to begin with.  Move on to other government boondoggles until we have trimmed them down to an approachable size.  Until we can get the budget under control, we should consider the American government fiscally and morally bankrupt.

Advertisements

One Response

  1. excellent critique. I share many of your views even though I was born and live in London, (UK).

    I would like to add that politics, (as we knew it), has been replaced by economics so whether its Democrat, Republican, ‘New Labour’ or Conservative the ideology is the same.

    all the ‘newspeak’ is pure rhetoric.

    words like Freedom, Democracy, Liberty, Equality have little or no meaning now as money is all that’s on, (most), peoples minds. Obviously this, (like everything else), has been engineered by the establishment to take an even firmer grip on the reigns of power as the world sinks into chaos leaving the man on the street with no option but to become either a wage slave or a welfare/social security parasite.

    the only ideology left is Capitalism, the ‘War’ is over and the time has come for the elite to rape and pillage their way across the globe without fear of reprisal.

    Debt is the perfect means of mass control because it still allows the establishment to build wealth but without the (increasing), production costs.

    They talk about ‘Freedom’ but only in terms of consuming as it’s the only so called choice left for us to make. everything else is out of our hands.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: