Clicking on the title will take you to an article from the former Comptroller of the U.S. David Walker. He has been an outspoken critic of the disregard shown toward the burdens placed on future generations by today's reckless government spending. As you might imagine, he is even more so now. Lost in the rush to stimulate the economy are the undeniable costs of a massive financial infusion by the federal government. We are running a trillion dollar deficit currently and we're anticipating an even greater one for 2009. There are unfunded mandates hanging out there, and both Social Security and Medicare problems that have been placed on the back burner. We are committing ourselves to a ramp up in Afghanistan and to a serious overhaul of the health care system. Meanwhile, the revenue estimations for the next ten years have to be muted to be taken seriously. There is hope being held out that a new paradigm has been realized and Americans will be more conservative spenders in the future. So, unless we have a serious "green" revolution that spurs investment and employment on the supply-side, future growth prospects will be limited. Consequently, the burdens on the youth of today, when the future arrives, will derail any hope of achieving the standard of living their predecessors enjoyed.
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