It is fundamentially wrong to spend the money (and therefore time) of people who are not born.
How are the people who are not born going to pay the currently existing for their use of infrastructure you suggest we wholly pay for now?
Krugman: Debt Is Good
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Re: Krugman: Debt Is Good
#22It is fundamentially wrong to spend the money (and therefore time) of people who are not born.
How are the people who are not born going to pay the currently existing for their use of infrastructure you suggest we wholly pay for now?
What's wrong with living within our means? Can we not build a road without taking from people who can't yet have a say in it?
Most people accept that we don't owe the debts of our ancestors, but for some reason, the most corrupt organizations somehow get a pass. A baby today in the US is born owing north of $40k to banks she has never done business with. If she does not like it, that money will be taken with the threat of force.
Re: Krugman: Debt Is Good
#23Earlier quoted context omitted.
How are the people who are not born going to pay the currently existing for their use of infrastructure you suggest we wholly pay for now?
What's wrong with living within our means? Can we not build a road without taking from people who can't yet have a say in it? Most people accept that we don't owe the debts of our ancestors, but for some reason, the most corrupt organizations somehow get a pass. A baby today in the US is born owing north of $40k to banks she has never done business with. If she does not like it, that money will be taken with the thre…
Not only does the newborn owe $54k share of public debt on average, the baby also owns (directly or indirectly) $54k worth of government bonds on average.
Re: Krugman: Debt Is Good
#24Earlier quoted context omitted.
What's wrong with living within our means? Can we not build a road without taking from people who can't yet have a say in it? Most people accept that we don't owe the debts of our ancestors, but for some reason, the most corrupt organizations somehow get a pass. A baby today in the US is born owing north of $40k to banks she has never done business with. If she does not like it, that money will be taken with the thre…
Not only does the newborn owe $54k share of public debt on average, the baby also owns (directly or indirectly) $54k worth of government bonds on average.
The debt is public, the bonds are held in a non-public fashion so there is a definite asymmetry there.