bankrupt

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Dean Baker discusses "The Bankrupt Debate Over Bankrupting Our Children" at TruthOut. He calls out deficit hawks for "bad logic and bad economics" and for "promot[ing] a nonsense worldview in which the metric of how well we are treating our children is the size of the national debt:"

For example, improving the education system or rebuilding the infrastructure or developing clean energy technology all make our children worse off, since their main measure of intergenerational equity is the size of the government debt.

In reality, what determines the well-being of future generations is the whole world that we hand down to them: the public and private capital stock, the state of technical knowledge and the specific skills and education that we give the future workforce as well as the natural environment and resources.

I didn't hear many complaints from the Right about the cost of Bush's trillion-dollar tax giveaways or military misadventures, but now that federal spending might benefit the least among us--well, that's socialism! Apparently, they don't want to spend a dime on anything other than exacerbating income inequality and spilling Muslim blood.

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This page contains a single entry by cognitivedissident published on May 12, 2009 8:04 PM.

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