What we are witnessing today is a historic inter-generational transfer of wealth. Past generations could expect a better life, but today’s youth are picking up the tab for the baby boomers. What’s more, it is the policies of the man they held up as a hero that are inflaming the problem.
Maybe young people still haven’t noticed, or don’t really care — at least not enough to change their voting habits. Maybe they are too interested in political issues like immigration reform or gay marriage to worry about their economic future…. But I suspect some day in their 30s when they are trying to get ahead and raise a family, many of them will have buyer’s remorse.
Of course, it may not take that long. There is one more irony to discuss. And that is, if healthy young people don’t sign up for ObamaCare – if they don’t “fall in line” – the whole system could come crashing down. The success of the Affordable Care Act is premised on healthy young people signing up. But what if they don’t? What if the glitchy websites prevent them? Or what if they just make a calculated decision to pay the fine (“tax” as John Roberts would have you believe)?
It may be that banking on young people really was fraught with danger. You live by the sword, you die by the sword. Now that would be ironic.
~ Matt K. Lewis, The Week, November 11
[Photo via MLive.com]