To begin with, the debt we are amassing will have to be shouldered by the young throughout their working lives. President Obama has added nearly $3 trillion to that debt in his first two years in office (after his predecessor had added more than $4 trillion in his eight years). And Obama’s budget would add a total of more than $11 trillion over just the next decade. By the time today’s young workers are at the peak of their working lives, America’s national debt will equal more than 200 percent of our GDP (up from roughly 60 percent today), according to the Congressional Budget Office. Today’s young voters will be left with the bill, but without many of the benefits of that spending…

Rather than address these problems, President Obama and the Congress have chosen to pile an enormous new entitlement program atop them. The health care bill enacted in March is a massive transfer of wealth from people at the beginning of their working lives to (generally much wealthier) people toward the end of their working lives. Beyond the sheer cost of its new system of subsidies, the law strictly limits the difference between insurance premiums paid by 18-year-olds and those paid by 64-year-olds—despite enormous differences in health care costs between the young and the old. It therefore makes health insurance far more expensive for younger people while compelling them to buy it. It is also slated to increase overall national health care spending, which will of course be borne by today’s young taxpayers in the coming decades.