Sixty One: In for the Long Term

Introduction

I have learned to “roll with the punches” since I graduated from college … you will too. You are graduating from college during an interesting time. We are in the midst of unprecedented change and volatility — especially when you look 10 or 20 years down the road. At a time when the United States faces its toughest industrial competition from China and India, our national competitiveness is challenged. Our trade deficit is almost $1 trillion! This must change … and fast … or we risk losing our position in the world. We are facing record high-energy costs and volatility, created — in part — by geopolitical uncertainty. We do not have control over our energy future. This must change … and fast … or we will
always be dependent on others for our security. Our population is aging quickly. By 2020, nearly 30 percent of our population will be older than 65. This will put a massive burden on our healthcare system. At the same time, we still have 45 million people who lack access to healthcare. This must change … and fast … or you will not have a healthcare safety net by the time you retire. In a period of economic prosperity and wealth creation, the bottom 25 percent of this country are losing ground. There is a sense that the “American Dream” is skipping an entire segment of our population. This must change … and fast … or America risks losing its mantle as the land of opportunity.

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