American children born today are getting a raw deal. As they come of age to drive or vote, they will be saddled with unimaginable levels of public debt because of the decisions their political leaders are making today.
I know this because the official keepers of the budget accounts for Congress — the Congressional Budget Office (CBO) — told us in vivid detail that public debts will swell, and a recent study shows this debt will overwhelm and constrain the future generations’ ability to make investment decisions available to current decision-makers and respond to unforeseen crises.
Recent policy choices unfortunately have constrained the ability of future generations to deal with unanticipated problems in their era. Reversing this problem will be difficult, but, as history has shown, it will come from a return to Democratic vision and leadership.