Governments tend to spend money hand over fist, eager to satisfy all the voices clamoring for handouts at taxpayer expense. In the long run, though, future generations are doomed to pay the bill for today’s unchecked government largesse. That’s why Atlas Network partner the Canadian Taxpayers Federation started its Generation Screwed project, which educates young people in easy-to-understand terms about the rising debt in Canada.
“To comprehend the size of the problem here in Canada, consider the fact that our federal government alone spends over $26 billion a year on interest payments,” CTF explains on the Generation Screwed website. “$26 Billion. The Canadian government spends more to simply maintain our current levels of debt each year than on our entire military budget. Previous generations have expanded entitlements without paying for them, and are now leaving future generations with the bill. This is not fair. That is why we created Generation Screwed.”
The online resources for the Generation Screwed project outline how unfunded government spending will result in both higher taxes and a less prosperous future for the millennial generation, and inform students on college campuses across Canada why they should stand up and protect their economic future. The Canadian national debt stands at $1.2 trillion and counting, enough to pay the tuition of every college student in Canada for 170 years if those funds had been left in private hands.
CTF also sponsors an annual Generation Screwed essay and meme contest, which offers cash prizes totaling more than $1,500 and a chance to have submitted entries published in Taxpayer Magazine. This years theme was fiscal responsibility and opportunity cost of the taxpayers.
Here are the winners from the 2015 essay contest:
- 1st Place: $650
“A Spending Problem in Newfoundland”
- 2nd Place: $300
“Ontario’s Strategy for Deficit Elimination and its Impact on Generation Screwed”
- T-3rd Place: $125
“Ontario Isn’t Everything: The Shocking State of Quebec’s Debt”
- T-3rd Place: $125
“Getting Ontario Back on Track”
Here are the winners from the 2015 meme contest:
- 1st Place: $200
“Promises Balanced Budget... Instead, Digs Us Deeper into Debt”
- 2nd Place: $100
“Keep Calm and Carry an Ever-Increasing Debt Burden”
- 3rd Place: $75
“Leaves Children with $268 Billion in Government Debt”
- 4th Place: $50
“Deficit? Who Cares? It’s Only Our Grandkid’s Money.”
Visit the Generation Screwed website.