By Tim Gillette, Community Voices

High expectations. A generation that would change the world. An overwhelming force that would show the world how a highly-educated population could innovate out of every problem faced by the world. That was the plan for the baby boomers of which I am one. But we miscalculated a bit.

Some of us got entangled and lost our lives or loved ones in Vietnam and bitterness remains over our response to each other. Some never left the ‘70s and its allure of freedom to be whatever we were and do whatever we wanted to do. While some of us went on unscathed through college and/or into one or multiple careers (just for the record, I have been trained for and have worked in three different professions), we found out that many of the problems were and are beyond our control -- let alone our ability to solve. Some have retired early with sustenance for years to come. But as our generation begins to move off stage through retirement and passing, I wonder if it wouldn’t be a good time to take a long look at what we have left and are leaving behind.

One of the most surprising things is that we have given our national and individual financial freedom away to foreign governments and mortgage and credit card companies. What is it that would move the generation with the most post-graduate degrees to think it could go on overspending? Was it the ads for easy bankruptcy or just a form of denial? Our generation created and then burst three major financial bubbles just in the last 10 years. The money we inherited from our hard-working and underpaid parents has largely been lost. If you don’t agree, then check how many trillions of dollars of our combined wealth has been lost just in the last two months in the stock market.

And we have a government in place that has, and I believe will continue to, print money to keep us happy. No matter who you voted for, wasn’t one of the expectations you brought with you into the polling place a desire to quickly eliminate the financial pain you are experiencing?

My concern is not that we are experiencing what I see as a small amount of pain in this recession; it is that the failure to control ourselves financially, to use limited resources wisely, and to be willing to pay forward is going to wreak havoc on our children and grandchildren. Retirement will once again become a luxury experienced only by the upper class. Purchasing a home for an increasing number will be something only dreamed about. It doesn’t matter whether it is a liberal or conservative pundit, the consensus is that the next generation will be the first in the U.S. to live at a lower level than the generation that proceeded it. Who will pay for our financial failures and unwillingness to control our greed? Our children!

Do we have time to change our ways? Yes. But we will all need to live a “pay as we go” lifestyle. It is my sincere hope that we never get back to business as usual. It is my hope that we think about the ramifications of our actions as they relate to our children, our neighbors, our communities and our physical world and then act in their best interest. That will be the best legacy that we can leave.

If you feel like this column is an affront to your way of life, I am not sorry. One of the other characteristics of our generation is to flick up a hand gesture in the face of any authority. While I am not an authority, we have acted as spoiled children without boundaries, and we need to understand the impact of our actions. If you have read this far, I hope you will at least think about what I have said. 

(Tim Gillette is one of about 10 people in the Savage community who write for Community Voices. This column features a different writer each week and is one of several opinion and commentary pieces appearing regularly in this newspaper.)