Social Question

josie's avatar

Do you feel guilty for sticking future generations with your debt?

Asked by josie (27866points) February 12th, 2010

The WW II generation accumulated quite a bit of wealth in the post war economy. The Baby Boomers and their children spent quite a bit of that wealth on consumer goods and now things are a bit tight. Rather than face the music here and now, which is the right thing to do, these folks are handing the problem off to the future. Isn’t that a shame?

Observing members: 0 Composing members: 0

6 Answers

janbb's avatar

Who’s partying now?

nikipedia's avatar

Of course we should not feel guilty and ashamed! Party on!

And by that I mean… you are not asking a real question. This is not getonyourbigsoapbox.com.

That said, I don’t think 2 wars + tax cuts for the rich = 1 big party. Not sure where you’re getting the “party” thing from.

Strauss's avatar

In defense of the Baby Boomers:
The consumerism that you speak of was encouraged, not only by our elected officials, but by the corporations who benefited from it. When the corporations made record profits, and grew to trans-national status, they thanked us by using their considerable influence on our legislature to roll back the regulations that had accumulated over the past 100 years.

Drgrafenbergmd's avatar

I dont have any debt, plan on being off the gasoline nipple within the month(biodiesel) and I may even organize a protest of the fed. Our debt is their wealth, its sick.

YARNLADY's avatar

@Lightlyseared I read that link, and I agree. The average taxpayer has no idea what the National Debt is, or even what it means. There is no ‘debt’ to our children and grandchildren. The money is money that owed on bonds and other lender/borrower transactions, where the lender expects a return on his money, and the return comes from the taxpayer when the so-called debt is retired.

Spending money we don’t have is a tradition from the advent of the concept of money. What is does is devalue the money we use, and little more. If you aren’t interested in doing the years of study necessary to understand the financial world, don’t bother to worry about it, it has nothing to do with you.

Answer this question

Login

or

Join

to answer.
Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther