There is something big going on in the U.S. and it accelerated this week with the President's signing of new healthcare legislation. Let's call it "generational theft". That term is a purposefully blunt way of saying that the decisions being made by a government dominated by baby boomers (those born between 1946 and 1964) for an electorate dominated by baby boomers will result in a huge wealth shift away from future generations.
Approximately 40% of every dollar presently being spent by the U.S. federal government is being funded by debt ($3.7 trillion fiscal 2010 spending with a $1.6 trillion deficit) that must be repaid someday-- can you say "I'm spending my chldren's inheritance; and leaving them with debt"?
As a baby boomer myself, (T. Taylor Payne is authoring this) I am concerned and even embarassed by this situation. Last night on CNN I saw John McCain use the term "generational theft" and I hope to hear more from other leaders that I would consider responsible.