• America’s fiscal path is simply unsustainable. The growing gap between federal spending and revenue over the long-term means our country will neither be able to afford the promises it has made in the past nor pay for needed investments in the future. This imbalance impacts everyone and everything we care about and represents the biggest challenge facing today’s young people.
• Our growing debt is not just a political issue, but a moral one. As a result of decisions that are being made (or not made) by leaders today, our generation faces a diminished future of more debt, fewer jobs, higher taxes and a lower standard of living. Inaction will result in Millennials being the first generation in our history to inherit a country worse off than their parent’s.
• When Washington delays, young people pay. The longer we wait to deal with our fiscal imbalance, the greater the burden will be on young people and future generations. The real choice we face is not between the Democratic or Republican parties, but between progress that can save our future or the status quo that would sacrifice it.
ANY SOLUTION SHOULD:
• Achieve fiscal sustainability and generational equity. Our country should pay for the programs it desires in the present without passing the bill to the future, and do so in a way that does not sacrifice critical investments that make America’s economy stronger and more globally competitive.
• Be built on bipartisanship and “Generationship.” Americans need to come together across partisan and generational divides to forge a bold and generationally balanced agreement, so that it can gain broad based support and be sustained over the long-term.
• Require shared sacrifice, while protecting the most vulnerable. All Americans should be part of the effort to put our budget in order regardless of age or socioeconomic status. We are all in this together.