Natalie Gonnella
We all know that America's deficit will cripple American prosperity and economic security at some point in the foreseeable future, but no one will feel the impact more than those who are 30 years of age and younger. Washington’s reckless spending spree will ultimately get invoiced to younger workers. The consequences will be staggering: higher taxes, slower growth, less opportunity. As Bill Beach and Dustin Siggins highlighted in a post on Heritage.org:
With current levels of debt, the cost of the wars in Iraq and Afghanistan, and unfunded federal government liabilities, a person in his early 20s can count on paying at least $3,000 per year toward the federal debt for a lifetime…It means that paying off personal debts (such as higher-education, car or home loans) will take longer. It means less income and personal savings. Most important, it means a diminished quality of life, including later retirement, later marriages and fewer vacations. In essence, the [“Debt Paying Generation”] will experience a lifelong recession caused by politicians and voters unwilling to make the politically difficult choices necessary to create a successful 21st-century America.
For the DPG (of which I am a member) to have to make such an astounding sacrifice for programs, services and entitlements that will (as they currently stand) provide virtually no benefit is inequitable and even immoral.
The discussion over spending cuts will continue throughout March, but Congress will only get serious about spending when it takes on entitlements - the big drivers of our long-term problem. Several organizations have stepped up to educate young people about the reality of America's fiscal situation and advocate for bold, sober solutions. As Freshman Congressman Tim Scott said in one of his first speeches on the House floor, “we simply cannot continue to dig a hole and call ourselves compassionate.”
Here’s a list of great resources/campaigns that may be of interest and inspiration to young Americans who want to take action and tell politicians that we won’t let deficit spending continue:
ConservativeHome: Pledge By America
The Pledge By America is ultimately a pledge for reform and greater personal responsibility in America. America's future prosperity is at risk because of the federal government's massive debt and deficit, which will crush our economy if we don't get serious and act now. It's time for all of us to make our pledge, a Pledge By America, that will signal to Washington we are serious about reform and willing to support needed changes to Medicare and Social Security. Republicans made a Pledge To America last year promising to get Washington under control, but it can only take us so far. Success will come only when enough Americans stand up and pledge to support reform. Supporting reform means valuing personal responsibility, saving for the future, working hard, and living with a less expensive government.
College Republicans: Don’t Put It On Our Tab
College Republicans are launching “Don’t Put It On Our Tab,” an issue campaign designed to highlight the negative impact that Washington’s spending is having on our generation. Part education and part action,“Don’t Put It On Our Tab” will inform young adults about our dire fiscal future and provide them an outlet to have their voice heard in Washington. Help us shut off the government spending tap. Help us tell Washington “don’t put it on our tab.”
Young Americans for Liberty: Visualize the Debt
To educate students and send notice to elected officials, YAL is organizing a national activism event for this month: "Visualize the Debt." YAL's effort to "Visualize the Debt" will personalize and make real the true cost of our government's reckless spending to a new generation of Americans!
OweNo is a national public awareness campaign whose mission is to educate Americans about the causes and consequences of the projected growth in federal debt levels and engage them in a national movement to address these important fiscal challenges.
FreedomWorks: Social Security Reform
Social Security has become a bad deal for younger Americans. Today, most young workers are likely to get less back in retirement benefits than they paid into the system. We believe workers should be allowed to divert a portion of their payroll taxes into Personal Retirement Accounts that they - not bureaucrats and politicians - own and control. This plan would allow workers to divert a portion of their Social Security payroll taxes into a “nest egg” that they own, control, and can even pass onto their children. PRAs would grow with the economy and provide seniors with secure retirement income. If we don't act now, the costs of fixing Social Security will only continue to grow.
Heritage Action for America: Stop the Spending
Heritage Action is working to secure Congressional support for the policies mandated by our spending mission statement:
Towards the goal of capping federal spending at one-fifth of the economy, we support a cap on total federal program spending, in nominal dollars, in each of the next 10 years to the 2010 level, and will work towards the enactment of a constitutional amendment to limit total federal spending to one-fifth of the economy.
This will require Congress to begin to cut spending immediately. Budget expert Brian Riedl of The Heritage Foundation has identified $343 billion in possible cuts, in just the first year. Heritage Action expects Congress to cut at least $170 billion from next year’s budget.
WeCantPayThatTab.org is a project of Young Americans For Federal Debt Awareness, a non-partisan, non-profit organization. Founded by two young Americans in their twenties, concerned about the future we are facing. Our goal is to create awareness among the young Americans between the ages of 18-32, also known as the Millennial generation, about the national debt. WeCantPayThatTab aims to educate young Americans about the consequences of the national debt and continued deficit spending. WeCan'tPayThatTab wants you to join with us and start getting active around the issue of fiscal responsibility. Contact your member of Congress and let them know that you want action on this issue. If they don’t vote them out. No matter what political party you identify with or socioeconomic class you come from not solving our nation’s fiscal problems will have a dramatic effect on your life. Mainly that the American Dream we all grew up hearing about will become out of reach for our generation.
Restore America’s Legacy promotes responsible entitlement reforms such as those proposed by Rep. Ryan, cuts to discretionary spending, a balanced budget amendment, and eliminating earmarks. These measures will help balance the budget, reduce the national debt, and restore sanity to the budget process. It will ensure Young Americans will not be spending most of their adult lives paying outrageous taxes because of the irresponsible decisions of the current generation in power. Young Americans will inherit a country that is financially and economically strong.
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