Not long ago I did a back of an envelop estimate, dividing the deficit spending by the population numbers and the number of months in a year. It appears that we are spending about $500 per person per month of money that is BORROWED, above the government's actual revenues. Without such massive (borrowed) subsidy, we would long ago discover that we are in the depths of a depression. We need to cut expenditures, or face catastrophic consequences.
It is the hazard of living on borrowed money. The spending feels just as good as spending money you have, but paying it back is twice as hard.
A certain amount of economic pain is going to be felt. The longer we put off that pain by spending borrowed money, the more painful it will be. This is all okay, except for the fact that it will be future generations who suffer that pain, and they didn't bargain for it.
Our government's deficit spending and attempt to provide nice health benefits, nice retirement benefits, paying people not to work, all of it -- seems to me to be one of the most immoral actions a government can perpetrate on its future generations.
It is, essentially, enslavement of future generations before they are even alive. |
