Economics and Our Future

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Filed Under Economy on Jul 17 

There is no doubt that the economy has been improving at a slow pace. Ebbing and flowing of economic success has left the United States, and the world, in a state of constant fear, confusion, or denial of just how bad the financial picture is. Gas prices continue to rise and unemployment rates vary from bad to really bad and back to bad again. In a nation with so much to offer and so much potential, it is amazing that the mismanagement of funds, lack of personal responsibility, or overall policy failures has taken a bad situation and helped to make it worse.

Military cutbacks are one area where this failure can be seen. While the sequester has said to be the reason for many funding cuts in the military, arguably in some areas where some leaning needed to be undertaken, monies are being restricted in order to cover debts and place financial resources elsewhere. Restricting the budget is necessary in trying to balance the economic future and if these were thought through and rational, it would make sense. But, while the military sees cuts that have led to meal restrictions and the loss of fireworks on military bases to celebrate the 4th, gophers are being saved in lands near bases in California. That’s right, millions of dollars are being used to save the gopher while our military goes without some of the basic necessities and without adequate pay, though this last problem has persisted for some time.

Further, it is our children that are being hurt by the joblessness and unemployment of this generation. The poverty rate among children, as assessed by a recent study, suggests that the number of children living in poverty has increased an astonishing 23% since 2011. Underemployment and joblessness continues to rise while the wide reach of entitlement continues, leaving a generation of children seeing their parents struggle and their parents becoming ever reliant on the government’s help. The impact this will have on this younger generation as they themselves age and enter the workforce is not yet known. One could guess, however, that the lasting effects of living in poverty could have detrimental effects on future policies and values in the United States.

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