CREATING DEBT FOR CHILDREN & GRANDCHILDREN 1
In Miranda Marquit’s post http://www.yieldingwealth.com/will-barack-obama-be-good-for-your-personal-finances/, one comment said:
To shield the people of taxes during the socalled War in Iraq, Bush Administration technically loaned for it. It shielded the people of taxes. That’s what third world countries do how they cope up with loans from first world country. This means, Bush economic policy, is still better.
The big problem with this kind of thinking (which seems to be how many politicians think) is it ignores the reality that what we do today is what our children and granchildren and future generations will have to live with: not only huge debts, but also global warming, depletion of nature’s resources, etc etc.
I am afraid that we are throwing a ball to our children and grandchildren that will be too big for them catch.
images from Microsoft Clipart, reconstructed by Ren Garcia
Thanks for sharing your thoughts on this subject. I disagree with the comment, of course. “Shielding” us from the taxes that are the natural consequences of the war also make it more tolerable — and we are still spending a great deal on the Iraq War, despite having those loans. And, as you point out, our children and grandchildren will have to spend even more.
Thanks for the godly comment in this ungodly hour. Thanks also for the post that gave rise to the comment which I am using in a couple more posts. I always find your posts stimulating and a mine for post ideas.