OK, not completely, and I know I probably shouldn’t enjoy the schadenfreude on this as much as I am. Still, it’s just wonderful to see billionaire Pete Peterson lose one:
Everyone is having a bit of a laugh today at the expense of “The Can Kicks Back,” the youth-oriented affiliate of the group known as “Fix the Debt,” which is yet another of the many organizations funded by single-minded deficit hawk billionaire Pete Peterson, along with a few of his similarly wealthy peers. The Can Kicks Back, which was supposed to nurture a youth movement to support Peterson’s goal of social insurance cuts and tax reform, now finds itself “nearly broke,” according to various internal documents obtained by Politico’s Byron Tau.
And why did this happen? Well, who knows, for sure. Mismanagement, poor fundraising, any number of factors could have played a part. But Pareene nails what was probably the ultimate reason underpinning all the rest:
…the entirely accurate perception that it is not actually a grass-roots organization of young people deeply concerned with reckless entitlement spending and unsustainable long-term debt, but rather yet another front group — and in this case a particularly ineffective one — for the small network of billionaires who have spent decades advocating tax cuts and the rolling back of Social Security and Medicare benefits, in the name of fiscal responsibility. It turns out that most young Americans, being members of a generation that has had some trouble with the job market, don’t care about the federal government’s 30-year debt projections as much as they care about “having enough money for food and rent.”
Sorry, Pete. The kids just aren’t that into you. And Alex P. Keaton’s in his forties now.