The Noise You Hear...

The noise you hear is the deceased members of the greatest generation rolling over in their graves. I suspect they’ve been stirring for awhile. I think GM’s bankruptcy today was more than they can take lying down. The bailouts, the Madoff scandal, the collapse of Wall Street and its icons, and the new Government intervention into our capitalist society started the wake up process and today GM finished it.

Friday’s USA Today (May 28, 2009) had two simple charts that provided a snapshot of the chaos that is our tomorrow. The front page pie chart stated, “What we owe - Federal obligations for benefit programs and the national debt soared $6.8 trillion in 2008 to $63.8 trillion or a cost per household of $546,668.

On page 6A another chart titled “Double Trouble” showed health care spending in this decade soaring from $1.4 trillion in 2000 to $2.4 trillion in 2008. The second half of this chart shows the average cost of a family health insurance plan increasing in from $6,438 in 2000 to $12,680 in 2008. This of course is before “Uncle Sugar” intervenes with more benefits for more people with more dollars that we don’t have.

I failed Economics 101 at USL but I’m smart enough to know what USA Today described can’t be sustained. I don’t know if the quote that follows is accurate or if I’ve attributed it to the proper author but I am sure that the Greatest Generation would say “right on” if they read it when they were alive or today or tomorrow.

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves from the Public Treasury. From that moment on the majority always votes for the candidates promising the most benefits from the Public Treasury with a result that a democracy always collapses over loose fiscal policy always followed by dictatorship.” (Alexander Fraser Tytler – 1748 – 1813)

Here’s our problem - the Greatest Generation helped build this country and the excesses we enjoy today. Most lived through the Great Depression. Most had nothing and appreciated everything. They did not know privilege but accepted sacrifice. Work was not an option; it was a part of life - everyday life.

All were impacted by World War II. The costs in terms of lives, dollars, and “blood, sweat, and tears” can never be repaid. They fought for their beliefs and paid a terrible price in battle. The only “entitlement” they expected was an opportunity. The only “payback” they sought was a better life for their families - their children and grand children. They gave and did not count the cost.

The succeeding generations now have everything and too often (in the stereotype) appreciate nothing. Entitlements are in our language and our lives. We are the beneficiaries of the sacrifices of our predecessors but may not be up to accepting the sacrifices needed to sustain the “better life” we’ve been given. I pray I’m wrong. I hope U. S. and the Greatest Generation after this brief wake up can Rest in Peace!

Copyright - Michael G. Manes (June 1, 2009)
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