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Probably because it has been sitting too long. Sometimes a generator will loose the magnetic charge that it needs to produce electricity.
It can be restored by taking a hand drill and (with the generator NOT running but switched on)plugging it into the generator. Then turn the nose of the drill back and forth several times real fast by hand and it should give just enough of a magnetic charge back to the generator. Unplug the drill and restart the generator. It should now be producing electricity once again.