One who intends to leave others better off for his having existed.

10/9/13

Shutdown; We have been stealing from our children by borrowing and printing for a more pleasant present

From a CPA ethics class book I wrote in 2011;

Does earn today, spend tomorrow, conflict with borrow to spend today and hope to earn enough tomorrow, or that someone else does?

Did some economic and political leaders bail themselves and their compatriots out of their own mistakes, by pledging trillions of debt and newly created money, knowing the consequences would be handed down to the unaware of following generations?

Is it justifiable for a nations elders to promise themselves tens of trillions of unfunded benefits, like Social Security, Medicare, Medicaid and state level obligations, for future generations to pay for?

Are some trying to stabilize an unsustainable global economy and entitlement system by increasing indentured labor of relatively younger citizens and their children, and their children’s children etc… who may not reap the prosperity of their parents and grandparents?

1 comment:

Anonymous said...

That last paragraph would have been more relevant to me 30 years ago when I started paying into the system.

I would ask "Should we steal from older adults who have paid into the system all their lives?