Obama's Budget: More Bad News for Young People

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Generation Opportunity: What’s worse than $17 trillion in debt? $100 trillion more

Generation Opportunity

"Why is it that every time politicians of either party "invest" our money, we never seem to get it back?"

Generation Opportunity President Evan Feinberg, one of the first Millennials to run for Congress, issued the following statement in response to President Obama’s newly unveiled budget proposal:

“The country is nearly $17 trillion in debt and we’re on the hook for close to $100 trillion in unfunded liabilities over the next 75 years. No offense to our geriatric elected representatives in Washington, but they’re not going to be around when the chickens come home to roost. They’re running up a tab that my generation is ultimately going to be responsible for. Today, President Obama delivered his annual budget recommendations, only 65 days later than he is required to by law. Instead of proposing any meaningful spending cuts or agency consolidations, this budget includes a 6% increase in government spending under the guise of ‘investments.’ Why is it that every time politicians of either party ‘invest’ our money, we never seem to get it back?”

As recent press reports have indicated not only will Obama's budget proposal cost $3.77 trillion for the fiscal year beginning in October, it will also increase taxes while Americans are already struggling. This dramatic increase of Obama's tax and spend policies will disproportionately harm young adults at a time when nearly 1 in 6 are effectively jobless, according to Generation Opportunity’s Millennial Jobs Report.

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David Pasch
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