Guest host Aaron Stevens interviewed the Manhattan Institute’s Jared Meyer on The Jayne Carroll Show (1360 AM KUIK) on October 21. In this 8-minute interview, Jared talks about how entitlement programs and the Affordable Care Act disadvantage young people to benefit those with much higher net worth. If you missed Jared’s fantastic presentation at Ernesto’s Italian Restaurant on Thursday night, you can hear his radio discussion with Aaron here.
By Jared Meyer and Kathryn Hickok
Is Washington, D.C. disinheriting America’s kids? You bet. Achieving the American Dream will be more difficult for the next generation because policies and programs created by politicians and bureaucrats in Washington restrict economic opportunity for the young.
The expansion of entitlement benefits and government services places a major future financial burden on the young. The federal government’s $18 trillion debt is only the tip of the iceberg. Unfunded liabilities driven by Social Security and Medicare push the total federal fiscal shortfall to more than $200 trillion.
The Affordable Care Act has raised health insurance premiums for younger adults. While people under 30 only spend an average of $600 a year on health care, young people cannot pay less than one-third of what older people pay.
And these are only two examples of the financial burden our government is placing on the next generation.
Many think a larger government, and higher taxes to pay for it, would benefit young people. This isn’t true. The key to restoring Millennials’ lost economic opportunity is for government to get out of people’s way.
Washington is robbing America’s young. Our country is facing a crisis, and change is essential for young people to achieve the kind of future their parents and grandparents worked hard to build. Otherwise, the bill will eventually come due, and the next generation will pick up the tab.
Jared Meyer is a fellow at the Manhattan Institute for Policy Research and the coauthor with Diana Furchtgott-Roth of Disinherited: How Washington Is Betraying America’s Young (Encounter Books, May 2015). Cascade Policy Institute will host Meyer to speak on this topic in Portland on October 22, 2015. Kathryn Hickok is Publications Director at Cascade Policy Institute.