Why Millennials Will Be Poor Their Whole Lives

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🕔 2 min read ∙ 270 words

Since the 1980s, the AARP has been lobbying Congress and the White House.

The AARP has just one objective: to transfer the future income of the young and the unborn to people over 50.

Yes, it’s completely immoral. The AARP is like the father who used his kid’s Social Security Number to run up a ton of debt, then defaults. The kid is left with a permanently damaged credit rating, which prevents him from getting a good job or an affordable house.

Thanks, Dad.

But you don’t have to take my word for it. Listen to Geoffrey Canada and Stanley Druckenmiller, partners in one of the most successful hedge funds in the world. And recipients of the money the government’s stealing from kids.

(Note: Skip ahead to about the 10 minute mark.)

Geoffrey Canada ’74 and Stanley Druckenmiller ’75: Generational Theft from Bowdoin College on Vimeo.

President Barry Mills moderated the discussion “Generational Theft: How Entitlement Spending is Stealing Opportunity from America’s Youth,” among educator Geoffrey Canada ‘74, investor Stanley Druckenmiller ‘75 and members of a packed Pickard Theater audience who posed questions to the duo.

Their visit to campus May 7 follows a Wall Street Journal op-ed piece in which they write of their shared concern that “government spending levels are unsustainable.” Canada and Druckenmiller, though from different backgrounds and with different political beliefs, have united to bring their message to the masses, appearing on CNBC’s Closing Bell and Squawk Box, and MSNBC’s Morning Joe. They warn that failing to reform an entitlement culture, reaffirm long-run objectives, and re-establish a common purpose will mean diminished opportunities for America’s youth.

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