Today’s Reckless Spenders Enslave Future Generations

February 27, 2012 13:39

Liable for the biggest chunk of the debt are children being born today. According to the Senate Budget Committee, each member of this group, which employs no lobbyists, already owes $1.53 million in federal debt. – IBD


From IBD Editorials


Those with the next highest burden — today’s high school students — will owe only about half that of today’s babies: about $870,000. College students are third, inheriting $681,000 in debt.

Those who ran up the indebtedness get off lightly. Baby Boomers are on hook for only $157,000 each.


Obama, for example, in a mere three years has run up more debt than all the presidents from Washington to Clinton combined.


Of course, it isn’t just Obama. Former House Speaker Nancy Pelosi — who owes a mere $71,286 — and Senate Majority Leader Harry Reid — $71,927 — have taken part in this inter-generational crime. And, yes, so have many Republicans. This is a bipartisan disaster.




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