GENERATION WHY ME

And so we come to Budget Night. The second for the Rudd Government. They celebrated their first with a $21 billion surplus. They’ll wake up tomorrow with a deficit of more than $50 billion. A multi-billion dollar turnaround which Treasurer Swan will blame on the unprecedented and unexpected Global Financial Crisis. And Opposition Leader Malcolm Turnbull will blame on ‘typical Labor Government reckless spending’.

And the truth probably lies somewhere in between. I doubt there’ll be many surprises. This Budget has been leaked by the bucket load to try to prepare us for grim tidings. They’ve made Laurie Oakes seem superfluous.

In all the previews and prognostications I was intrigued by a snapshot in the Herald Sun of what people of various ages expect –even demand – from their government.

And the age differences tell a starkly different story.  A couple in their Seventies hope for more public housing for the homeless and the elderly. Funding to guarantee hospital beds are available when required and pension rises.

A couple of newlyweds in their Twenties, great examples of Generation Y, hope for more stimulus packages to help pay for things around the house. Paid maternity leave for everyone on low and middle incomes because they will ‘at some stage’ have children. And cuts to beer and beer taxes.

It’s not the Y generation. It’s the Me generation. The last years of the Howard Government and the first years of the Ruddster must seem like they’ve stumbled on Aladdin’s Cave. Having a baby?  Here’s $5000. Want to buy a new home? Here’s $14,000 cash. And Brumby will toss in another  $8000.

Need a stimulus? Here’s $1000. Want a bit more ? Here’s another $900.  Coming up is 18 weeks pay for time off to have a baby. And if your employer pays for maternity leave you can get that and double dip with about nine grand from the Ruddster.  Me. Me. Me.

To make things even better the Reserve Bank has been hauling down interest rates so your mortgage rate is only a third of what your parents paid. Recession? What’s a recession?  What’s a credit squeeze?  A million people out of work? As long as it’s not me, baby. I’m bulletproof. Anyway, the Government will take care of things.

This is a credit card generation that wouldn’t dream of saving for a rainy day. They wouldn’t even invest in an umbrella.

You worry how they’ll cope if the proverbial hits the fan. Won’t be enough for Generation Y to sit around and ask Why. Why me?

© Copyright Derryn Hinch 2009