"People Try to Put Us Down.."

I heard the question posed on one of the talk shows this morning and it was only a matter of time before it was asked - will our kids be able to expect to have a better life than we do? Is the American dream for all intents and purposes dead?

Whenever our economy is shaken to the extent is has been recently, there are those among us who are ready and willing to write America off and say her best days are behind her. President Carter himself fell victim to this type of naysaying and defeatism by telling us we need to start doing with less.

One of my favorite personal stories about intergenerational theft happened in 1998. I was attending a Trauger family reunion in Bucks County, PA. I was standing with my father, grandfather and his brother. Seizing upon a moment to ask a young Senate staffer a question, my grandfather's brother asked, "why is the federal government stealing my social security money?"

I responded that it was quite simple, his generation has been in power, my father's generation bitched and moaned for it, they gave it to them and my generation will have to pay for it. The discussion ended right there. I'm not sure my grandfather or his brother expected or appreciated such a broadside from me, but I believed it then and I believe it now.

Which brings us to today. What many people don't realize is the extent to which the federal government has gone into debt in the last six months to deal with the current situation. Nearly ten trillion dollars will be, has been, or could be spent to get us out of the hole we're in. Again, my generation and those that follow will be expected to pick up the tab when it comes due.

Unfortunately, this only reflects what's happened in the last six months. We still have major structural issues with our federal budget that set us up for nearly $60 trillion in unfunded liabilities for things such as Medicare and Social Security. What's different about that situation is the Baby Boom generation may actually have to help pay a portion of the bill by reducing their benefits - and they should.

Do I believe my daughters should expect to live a less fulfilled or comfortable life than I have? Do I believe the American dream is dead? Absolutley not. I have faith in the American people, the American spirit and American ingenuity to overcome these problems. I'm sure most living through the 1930's and late 1970's had their faith shaken and may have started to believe their children would never be able to make a better life for themselves, but they did. So it will be with the next generation. That is the hope and change we can believe in.