'WAR AGAINST YOUNG'
Looks like there's still money in the till
Matt Miller ("Right and left unite in war against the young," June 19) is trying to incite a generational war, warning the 35-and-under crowd that they are being swindled. He cites the truly lousy economic priorities of both political parties and concludes that the youngsters are out of luck: "Sorry, kids, the till is empty."
His sad solution to this mess is to embrace former U.S. Sen. Alan Simpson's approach of swindling seniors instead by cutting Social Security.
Miller should be required to explain the following:
• The "till" was apparently full enough for the Federal Reserve Bank to find $16 trillion in zero-interest loans to bail out the world financial system. That's trillion with a T, kiddies, and more than our entire gross domestic product or national debt.
• More than $3 trillion went to an assortment of foreign banks, enough to fully extend current Social Security benefits to about 2062.
• Another $2 trillion went to Morgan Stanley, where Simpson's buddy, Erskine Bowles, still serves as a director.
• And let's not forget that the Fed refused to reveal those previously secret loans until ordered to do so by a Federal Court of Appeals.
So, it's pretty clear to me that "the till is empty" meme is a pernicious fraud.