The heavy Wisconsin influence on the Millennial Debt Foundation (MDF) reflects the legacy of fiscal conservatism in the state, a legacy that understands the perils of trillion dollar deficits and a lack of long-term policy in our nation’s capital.
Washington’s bipartisan tradition of borrowing against future generations to fund an ever-growing federal government raises ethical and economic questions that warrant the attention of all Americans. Despite projections showing more than $100 trillion in new debt over the next 30 years under current policy, a generational call for stewardship in Congress could stabilize deficit spending and prevent a debt crisis with minimal impact to retirees.
I founded MDF in 2019 with the expressed purpose of having substantive, honest discussions that explore the consequences of the national debt on future generations, specifically millennials. Through the formation of the Millennial Debt Commission and the “Stewardship Series,” MDF has hosted some of the only bipartisan conversations on the fiscal future of America as a pandemic has led to $6 trillion in new federal debt in just one year.
In partnership with the Institute for Reforming Government (IRG), MDF will hold its third regional Stewardship Series on Friday in Milwaukee featuring millennial Congressmen Mike Gallagher and Bryan Steil, who are among several Wisconsinites who lent early support to MDF as it launched with the aim of bringing generational leadership to the nation’s mounting fiscal challenges.
Along with U.S. Senator Ron Johnson, Gallagher and Steil are Honorary Congressional Advisors to the Millennial Debt Commission, an MDF initiative which is made up of 20 young business leaders from across the country working to create a generational framework for long-term deficit reduction and stabilization of the national debt. Among the members of the national commission is Madison-based entrepreneur Rachel Neill, the CEO of Carex Consulting Group.
Gallagher’s Eighth District predecessor, former Congressman Reid Ribble, an ardent fiscal conservative during his time in Washington, is a senior advisor to MDF. And in 2020, the Milwaukee-based Lynde and Harry Bradley Foundation awarded MDF a startup grant.
MDF’s Wisconsin roots trace to the organization’s founding as Legacybox founders, Adam Boeselager and Nick Macco, both Green Bay natives who now live in Tennessee, were early members of our Board of Directors. Macco’s father, State Rep. John Macco, represents Green Bay and chairs the Ways and Means Committee. Rep. Macco is participating in Friday’s Stewardship Series event alongside Revenue Secretary Peter Barca.
Building on the first two Stewardship Series events, which featured George P. Bush, Rep. Dan Crenshaw and Rep. Chip Roy in Texas and the three most recent governors of Tennessee, it was a natural fit to visit Wisconsin and partner with IRG, which was founded by Governor Scott Walker. Gov. Walker, who will follow Gallagher and Steil on Friday, reduced debt as Milwaukee County Executive before doing the same in Madison.
Friday’s Wisconsin edition of the Stewardship Series is open to the public and you can RSVP here.
Weston Wamp is the founder of the Millennial Debt Foundation based in Chattanooga, TN.