In this video, Geoffrey Canada of the Harlem Children’s Zone and Peter Druckmiller, a hedge fund manager, make their argument that the uncontrolled rise of entitlements and government debt is an unconscionable theft from children and the future generations. Finally, those who care about government and the future are starting to realize that protecting entitlements is not a liberal or a conservative issue, but a generational issue.
Entitlements now make up 67% of all federal money spent every year. That is up from 50% in 1994. And they are the fasted growing part of government spending. The result is ever-less money for education, infrastructure, and building a common world. Here is what Geoffrey Canada says:
We’re going to spend all of our kids’ money right now. Guys my age in their 60s. We are not thinking about the next generation now. I think this is a disaster for America.
We are going to spend money that ought to go toward education. It ought to go to their retirement. It ought to go to research and development. We are going to spend that money now on Medicare, Medicaid, and social security because we don’t have the courage to tell my generation, “Hey guys, we’re going to have to turn this down.”
Watch the video.
You can also read their editorial, “Generational Theft Needs to Be Arrested.”
The HAC blog has been worrying about the generational injustice of our entitlement system as well as the hollowing out of government. Click here to read "Generational Injustice." And "The War of the Generations."