My dear grandson,
I just wanted to write you and tell you how much I love you. I have such great hopes for you as you grow into the future, but deep concerns about the world you will inherit - a world that seems increasingly unstable and unsure of its self.
There are many things you won’t understand right now, but I am persuaded you will later, and that’s my reason for writing this little time capsule. I am sharing my heart out of my sadness with the political developments in this hour. Sonny, we are in a severe crisis, one that will alter our nation for many decades to come. We are hanging in the balance, and the outcome is not apparent. When you are old enough to understand, the course will have already been set.
Our nation and many of our closest allies have begun to unravel economically, which has been followed by a significant changing of the political guard. At the very heart of the problem there has been a departure from our core values and our ethical base of doing business as a nation. This has lead to corruption and fraudulent practices we thought were limited to more underdeveloped cultures. Perhaps the intentions have been well-meaning, but this political transition reveals a lack of wisdom and inexperience, and a deep commitment to centralized governmental solutions.
We are about to embark on a national budget with a trillion-and-a-half-dollar deficit, right after having thrown perhaps as much as two trillion in handouts to our largest and supposedly most successful financial institutions, in a desperate attempt to stop our current capital depletion. The market continues to deteriorate and GDP indicators have plummeted from positive to negative. We drift far below dreamy predictions that borrowing and spending more of our taxpayer’s dollars will bring economic recovery, but which will actually burden future generations with huge taxes and unmanageable debt.
I write apologetically, even tearfully, because my generation is overseeing and orchestrating what may become one of the largest transfers of wealth ever witnessed, when a current generation robs a future generation of its inheritance and productivity. As politicians seem to care only about securing their positions, we are selfishly squandering precious assets which are the fruit of hard work and sacrifice, whether from my generation or someday from yours. We seem to be shoring up our own personal security at the expense of your future, all in the foolish gamble that breaking the financial rules will miraculously translate into a recovery, as though this nation is above God’s dealings. The fact that we broke the rules in the first place is what got us into this mess.
This has all taken place under our watch. Forgive us for abandoning our post of financial responsibility. I promise that your dad and I will fight to turn this around, but even if we fail, we will do our best to prepare you to courageously face the challenge of restoring this nation once again.
Principle Based Evaluation: At what point does it become immoral for us to enslave our grandchildren with debt based on our failure to be financially responsible and how do we prepare them for the uncertain future they are about to inherit?