Friday, June 12, 2009

How Much Debt Will Gen X Have to Pay

For all of you young kids (and by that I mean people my age) who drive around with Obama bumper stickers;


But hey, at least you were "cool" voting for Obama. Yeah, that's worth enslaving your children. I can see the conversation now.

Child of Gen X'er - "Dad, why do I only get to keep only 30% of my income?"

Aged Gen X'er - "Because I was cool in 2008 and voted for Obama!"

Child of Gen X'er - "Yeah, but this is kind of like slavery."

Aged Gen X'er - "Quit being so racist and eat your government financed organic green bran muffin!"

10 comments:

Nick said...

And the responses coming from the White House are even more transparently stupid than I expected, (but he did promise transparency, now didn't he?):

White House Sends Signals on Deficit (WSJ)

I emphasize, "the result of a belief that economic recovery is happening." Facts schmacts, if we all just believe, it'll be okay!

Anonymous said...

I love bran muffins. I ever do hope they have raisins in them.

Anonymous said...

That table is also a fairly decent prediction of which nations will be ineffective & mired, rather than dynamic and investing in productive endeavours.

For example it's a gimme to imagine that the USN will not be keeping sea lanes free, and intimidating 2 bit dictatorships when most of the budget goes not to buying new ships and paying sailors,( and developing the kinds of technology that scare the bejesus out of potential opponents) but towards servicing the debt, and paying for bad healthcare.

Jaime Roberto said...

My 10 year old son is an ardent Obama supporter, because his teacher was. His class voted nearly unanimously for Obama in a mock election during the primaries. Last week I showed him the graph of how the budget deficit is projected to explode over the next 10 years and told him that he would have to pay it off when he starts working. He burst into tears and said "I don't want to pay! I'm not going to pay!" It was kind of heartbreaking to see. I suspect a lot of older people will have a similar reaction in the future when they realize that the "rich" aren't the only ones who have to foot the bill.

Anonymous said...

Cappy,

You are always right on. The sad thing is that, those of us who see what's coming will get to say 'I told you so' while standing in the cesspool of debt and despair along side the culprits.

I am Canadian and I live on an Island in the Pacific. I feel like I am in a peanut gallery watching the marionette show on the mainland.

Anonymous said...

Debt run up by fiscal conservatives Bush I + II, and Reagan, 9T. Debt run up by Dem's Clinton and nObama 3T. Looks like Dem's are the low spenders. So, why is it nObama's fault the gen X kids are going to have to pay this all back? Looks like you're not being very objective Captain and you usually pride yourself on that.

Captain Capitalism said...

@Anon 1PM

You are the perfect dumbass.

BUSH'S FAULT, BUSH'S FAULT

Obama is QUADRUPLING DOWN ON WHAT BUSH DID.

Typically effing spoiled brat socialist American who wants to ignore reality and believe in what they want to believe.

You're a hypocrite and you're too damn stupid to realize it.

Captain Capitalism said...

Hi Jamie,

Something tells me though with you as his father he will straighten up and fly right.

Cpt.

Anonymous said...

I'm anon @1. I typically agree with you 90% of the time, so I guess that makes you 90% as stupid as I am. If you objectively look at it, Democrats have run up smaller deficits than Republicans. Why can't you recognize that. I know you can do the math. I don't support nObama (which is why I wrote his name like that) but you are pinning all the debt on him, when even if his budget explodes, it is still less than half of the total. Bush's and Reagan ran up more than half. Live in reality.

By the way, I supported Ron Paul and I'm an accountant. Hardly a socialist brat.

Captain Capitalism said...

Did you look at the CBO figures and the federal budget projections then? Those AREN'T coming under Bush's watch. And yes, Bush's deficits as well as Reagans were unacceptable, but the majority of the new debt we're adding is in Obama's hands and it will dwarf what Reagan, Bush and LBJ could ever dream up.