The document discusses the growing federal debt in the United States and its implications for younger generations. It states that total federal debt is expected to grow from $5.8 trillion in 2008 to over $11 trillion by 2019, increasing from 41% of GDP to 82% of GDP. By 2050, total debt is projected to reach 320% of GDP and 750% of GDP by 2083. This growing debt from programs like Social Security, Medicare and Medicaid will have to be paid back through tax increases, spending cuts, inflation, or debt repudiation. The document warns that repaying this debt will significantly reduce the quality of life for younger generations by delaying major life milestones like home ownership, marriage, and family starting

1. Will Opportunity Keep Knocking? The Implications of Mounting Federal Debt for the Debt Paying Generation Presentation by William Beach

2. The Obligations of the Debt Paying Generation Total debt expected to grow from $5.8 trillion in 2008 to over $11 trillion by 2019. That is from 41% of GDP in 2008 to 82% of GDP in 2019. Tsunami of debt from Social Security, Medicare and Medicaid will push total debt to 320% of GDP in 2050 and 750% in 2083

8. Debt Always has to be Paid Payment can be made by Raising taxes Lowering future spending Inflation or dollar devaluation (debt repricing) Debt repudiation

9. Unfortunately, we have very big debts to come, and our incomes won’t grow as fast as our spending…

14. Let’s Get Personal: Repaying this Debt Will Reduce the Quality of Your Life The “economic stimulus” debt alone will cost you $280 per month for the rest of your life = buy and trash an iPod a month. Your generation’s average tax rate will double and your children will pay three times as much. That probably means: First home purchase later in life. Marriage later in life and later to start to families. Longer time to pay off student loan debts. Slower earnings growth over your lifetime. Less savings for education, health care, and retirement. Smaller wealth transfers to your children and grandchildren.