Bailout Bandaids: The Cost to My Generation
It’s vital to fix health care, and create jobs via investment in infrastructure and energy. This Gen Y rep resents any implication that want handouts, when it’s the Boomers (to us, they’re our grandparents/older parents) and Gen X (younger parents/workplace mentors). Some of us work hard, struggle to keep pace with change, and to adapt to the new paradigm of the world we’ll soon lead.
A skewed sense of “liberal Californians” caused a little shock when reading Mark Steyn’s “Welcome, kids, to the Brokest Generation” in the OC Register. Kudos to the writer for the humor imbued within a very stark objection to the massive amount of dept the government and our parents and grandparents will leave us with.
He mocks the Obama supporters chanting for hope and becoming polically active in the face of a dreamer’s reality: A world where we could spend our way out of calamity. He says of TARP and bailouts:
“This is the biggest generational transfer of wealth in the history of the world. If you’re an 18-year-old middle-class hopeychanger, look at the way your parents and grandparents live: It’s not going to be like that for you. You’re going to have a smaller house, and a smaller car…”
It’s true. While education is on the uptick, and many are driven into career prepatory classes, internships and jobs starting freshman year at college, somehow many grads are still living the life of the starving artist. We’re not any dumber about finances than 25-year-olds in 1970 (and we probably smoke less weed). We’re savvier about technology and navigating massive amounts of information. We’re educated and driven. Some would say we’re aspirational to the extreme, but I prefer to think that we’re blessed with the optimism of not only youth but of being raised in a time of plenty.
How does this happen?
Comments Steyn: “But [Boomers] also love the idealism of youth: We want to help the sick and heal the planet by voting for massive unsustainable government programs. Like the young, we’re still finding ourselves, but when we find ourselves stuck with a medical bill or a foreclosure notice it’s great to be able to call home and say, ‘Whoops, I got into a bit of a hole this month. Do you think you could advance me a couple of trillion just to tide me over?’ … In supporting the political class in its present behavior, America has gone to the bank and given its kids a massive breach-of-trust fund.”
I am being betrayed by Boomers/Xers in Republican party as much as by the Democrats. Gen Y doesn’t have a voice yet — we’re still working on political careers, and the likelihood of fundraising for a political run in your 20’s or early 30’s right now is laughable.
As a moderate Republican, I expect to invest in the things outlined at the start of this post: Energy, healthcare, infrastructure, and let’s add, education. Because those are all investments in the kind of smart country we need to move us out of troubled waters. But approving band-aid bailouts for companies so broken they become black holes sucking my generation dry (“General Motors has 96,000 employees but provides health benefits to over a million people. They can never sell enough cars to make that math add up,” writes Steyn), is not the kind of leadership I need.
Republicans, stand up. Every billion added is another few years of my life Gen Y works, saves and can’t prosper… no matter how many things we’ve done right. Let’s be smart about this. Even progressive Gen Y youth who supported Obama can’t stomach lifelong debt and despair. Start talking to us — we’re the ones that have to work our way out of your debt.