Remember when Bill Clinton ascended to the presidency? There were hurrahs. At last the Baby Boom generation had its own president!
We’ve gone through another Baby Boom president, and now we — and I’m talkin’ ’bout my generation, here — have our very own economic bust. Call it the Boomers’ Bust.
John Kass, writing in the Chicago Tribune, notes how different things look for Boomers, now. “In the ’70s,” Kass writes, “the slogan was ‘Do your own thing.” But today’s slogan might be ‘Washington, please save us.’”
Kass attributes some of the difference merely to age. When we were young, we took risks. Now that we’re older, we simply want to keep our houses and our cars and our TV sets, and our retirement plans.
The ominous marker in all this is the transfer of power. In our desires, demands, for security, we’ve given up a lot. Kass says we are giving up “liberty for all” and exchanging it with “power in the hands of a few.”
We can see it is who gains most: people and corporations on the inside track. But, as Kass points out, look who loses: “The casualty will be the entrepreneurs, those on the outside.… Such men and women will be on the outside for decades now.”
Since it was entrepreneurs who accomplished the most enduring good during the last 40 years, this will be tragic.
This is Common Sense. I’m Paul Jacob.