Monday, February 13, 2012

We're stealing from generations unborn

Which is, of course, wrong.  John Maynard Keynes (who had no children, and so didn't care about that aspect of the issue) used to explain away national debt by claiming that we owed the money to ourselves.  We've used Keynes' comfortable lie to justify borrowing so much from ourselves that it will require several lifetimes to pay ourselves back.  In other words, we are stealing from those who will come after us.  Here is the issue in unmistakeable terms (h/t Pertinacious Papist):