Although we hope that author Jeff Johnson is joking when he recommends using the future incomes of today's children to sustain today's economy, his message hit pretty close to home. For too long, the government has accepted the notion that we can borrow against the lives of future generations to pay for today's conveniences. Mr. Johnson's piece is satire, so take it with a grain of salt. But, sadly, the premise he describes is not too far from the truth...

"Bouncing Baby Bailout" by Jeff Johnson

It is not very often that the words "deficit" and "debt" dominate headlines and political talking points. As the Senate prepares to pass President Obama's stimulus package, some politicians are getting a little bit nervous about the price tag attached to the bill. What we would like to know is why few people are looking beyond the next 10 years to understand the real economic crisis awaiting this nation. As Babyboomers start retiring and coming under the care of the federal government, the U.S. is heading towards a financial tsunami unlike anything this country has ever seen. Driven by the politics of now and the constant obsession with reelection promises, the federal government has promised a whole lot more than it can possibly deliver. With fewer workers and an unprecedented level of retirees, the nation's entitlement stytem is entering a period of extreme duress. Government data and projections forecast record levels of defcit and debt that will lead to a near shutdown of the federal government by 2040.

The country is currently facing a harsh punishment for years of myopic thinking. The "live for today" thinking of American households and corporations has created a slowdown in the economy that could last for years. As the Congress and President steer themselves out of this storm, they need to look ahead in order to avoid the next crisis. America's longterm fiscal sustainability needs to be a top issue for the people and their representatives. We will need to make some tough decisions about what we can and cannot afford, and the American people need to be engaged on the issue.