Americans are an ill-informed people. Until it hits them, they don’t think much about the future and what it may mean for their children. For instance, our 17 trillion dollar debt has no meaning because the consequences of it will have no meaning until the future. How far into the future is debatable.
Ultimately, the interest on the debt and the principal must be paid. The federal government must resort to higher taxes in the future. This depends upon the wealth of the nation and the ability of Americans to pay higher taxes. Taxes on businesses are just passed on to consumers; therefore, our children will experience higher costs which means they will have less money to pay for the things they need and want. But adding to the financial burden is the fact that the present generation will have less wealth to carry into the future. The declining wealth of the average American is the result of the Democrats and Obama mortgaging our future through their policies.
Consider these facts:
1. ObamaCare is driving health care costs up, not down.
2. The number of people on disability exceeds the entire population of Greece.
3. As a result of ObamaCare, more part-time jobs are being created than full time jobs.
4. More people are now on welfare than any other time in our history since the Great Depression.
5. Poverty has increased to new record heights.
6. Census numbers confirm that the middle class has shrunk.
7. Median income has declined.
8. Young Americans are deeply in debt and without jobs in record numbers.
9. The borrowing by the federal government has enriched China while weakening our own economy and currency.
10. The unemployment and under-employment rate is extremely high.
All of the above are reasons why there will be less wealth for our children to carry into the future. The nation is on a downward spiral which the present administration tries to deflect by blaming everybody except themselves. They demonize their critics and characterize any dissent as being “racists” even though racism has nothing to do with their policies. This will continue until Americans feel the pinch in their pocketbooks. Expect it to get worse because the Democrats have no desire to look at the consequences of their actions for the future.