The program is full of millennials, so we particularly appreciated Mr. Cooper sharing his knowledge on future crises that will burden us in the future.
Millennials are changing business more than any other generation. We are risk-takers, less structured, more engaged, and more comfortable with "disruptive technology". However, debt is a HUGE problem for our generation currently and in the future, despite the recent news of the federal deficit improving.
A series of monstrous debts will be incurred in the next 10 years or so because of entitlement programs, 2/3 of which are for healthcare and pensions.
Promises were made for the future that we do not have the money to back up. The tax burden goes wherever there is revenue. This burden will be on the current emerging business leaders. You and me. Someone has to pay the bill and make the balloon payment, and that someone is the entire millennial generation.
This is something to be aware of and keep an eye on in the future.
For more information on the topic or on the US Chamber of Commerce in general, please visit their website www.uschamber.com
