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After watching the videos, I do agree with Druckenmiller’s idea that today’s youth are being robbed by retirees. This is so because entitlement spending is stealing opportunities from the youth of America. This concept of generational theft is based on the fact that opportunities for the youth are extremely important and the entitlement spending or the money spent by the government in retirement fund can be better utilized for the purpose of building job opportunities for the youth. In present times of recession, it becomes even more important to build these opportunities.
It is important to divert the funds used in retirement and entitlement into job creation and opportunities. This is possible by creating better job opportunities and also focusing on betterment of the youth. In this way it is essential that there be a balanced growth of both the generations and it is not right to support the development of only the older generations. It is important to focus on the growth of the youth as well. Moreover, it is also important that the funds be used for economic development where in the youth can contribute much more than the retired generations. The strengths of America is made of a number of innovation-generating institutions like universities and research labs; the high quality of intellectual property rights, an open society, effective small investor rights, capitalism, flexible labor laws, laws and regulations favoring setting up business, large domestic market, and political stability. Given this background in the America, it is important to create jobs for the people who can capitalise on these strengths and gain competitive advantage for the country.
A Billionaire like Druckenmiller is so interested in this issue because he wishes to see progress in the American society and believe that the youth should be given several growth opportunities. Job creation in America is important in order to bring in better economic development. It is also important to do so in order to present the youth with a chance to have a better lifestyle.