It was presented as a win/win. But more and more, it’s becoming clear that ObamaCare will have winners and losers — and that many young people will get the short end of the stick.
But it’s not just ObamaCare. Despite their support for President Obama, many young people may not have much to show for it when his eight years are over. That’s what my latest column for The Week is about.
Here’s an excerpt:
“Health care isn’t the only example of how the young are being fleeced. If being targeted by ObamaCare and enduring high unemployment rates aren’t enough of a challenge for young people just starting out in life, the debt burden should add an additional level of concern.
“It’s not just that young people will have to pay more — it’s that they are doing so to make up for the excesses of the baby boomers. As a Wall Street Journal column recently noted, ‘While today’s 65-year-olds will receive on average net lifetime benefits of $327,400, children born now will suffer net lifetime losses of $420,600 as they struggle to pay the bills of aging Americans.’
“What we are witnessing today is a historic inter-generational transfer of wealth. Past generations could expect a better life, but today’s youth are picking up the tab for the baby boomers. What’s more, it is the policies of the man they held up as a hero that are inflaming the problem.”