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April 6, 2013

Millennial Reality

The millennial generation may be the first generation since at least World War II to face the prospect that they live in a country that will not be the wealthiest financially, the strongest militarily, and the most respected globally.

In the year 2000 65% of worldwide middle class consumption was done by citizens living in Europe, United States and Japan. By the year 2030 the percentage of middle class consumption in these countries is expected to fall to approximately 15% of the total. Over the same time period, the percentage of middle class consumption in the United States alone is expected to fall from 23% to around 5%. (See the chart included in the link below.)

Presently our defense budget is $711 billion while China's is $150 billion. Our military budget is equal to the 13 countries with the next largest military budgets combined. Ours is not sustainable while China's is expected to increase. We no longer can be the military for all of the "free world".

Ronald Reagan said "America is a shining city upon a hill." In the rest of the world our beacon is getting dimmer and dimmer. A part of this is natural as other nations become wealthier and stronger. However, much of it is caused by our inability to functionally govern ourselves. We are inept at pulling out of the recession and implementing a plan to gain control of our debt.

Our housing industry was at the epicenter of the 2008 global meltdown, the nations financial rating was downgraded for the first time in history, we unjustifiably invaded another country, we have been in a quagmire in Afghanistan for more than a decade and their is more inequality than ever in the country.... .. More

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