FinancialRx submits: Fed Chairman Bernanke's speech today, "The Coming Demographic Transition: Will We Treat Future Generations Fairly?" was essentially ignored by the media, as they hyper ventilated over comments about housing during the Q&A that followed.
More importantly, nobody, including Bernanke, seem to be terribly bothered by the central question: "Will We Treat Future Generations Fairly?"
"At the heart of the choices our elected representatives will have to make regarding the distribution of these costs across generations will be an issue of fairness: What responsibility do we, who are alive today, have to future generations? What will constitute ethical and fair treatment of those generations, who are not present today to speak for themselves?"
What in the wide, wide, world of sports is going on here? Our various deficits and unfunded liabilities are so huge, we are now engaging in a narcissistic debate as to whether or not the current generation should even chip in to stop the bleeding.
Are we unable to solve this because the concept is too complicated for voters to understand?
Then think about it this way: Why stop with making our grandkids pay our bills? Let's pass a law that the baby boomers get free oil changes. Oh, and we should be able to fly for free...