
Federal Spending & The Budget | |
The Younger Generation's Stake In The National Debt |
Young Americans are usually less inclined to turn up at the polls on election day than are their seniors. But that may change as they become increasingly aware of the burden of government debt that their parent's generation is bequeathing them. The profligacy of government appears to be sinking in, and some young people are becoming truly concerned about the amount they will have to pay during their working lives just to service the federal debt, let alone pay off the principle.
Only by balancing the federal budget speedily will those now entering the workforce and their younger siblings escape some of this burden. And balancing the budget will have other salutary effects, such as lowering interest rates by one or two percentage points. This lowered interest rate would mean:
Source: Keith Halverstam, (Employment Policies Institute), "A Message From Those Stuck With the Bill," The Washington Times, February 8, 1996. |
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