Taming the Deficit
Saving Our Children From Themselves
This publication is critical of the conventional argument that current and projected future US budget deficits will place an unbearable burden on future generations. The authors note that the debt projections are actually a measure of the debt that today's young people are expected to run up. They argue that an honest discussion of the long-term debt problem cannot possibly describe it as a measure of generation transfer from the young of 2010 to the elderly. Rather, it is largely a matter of the extent to which future benefits are projected to exceed the taxes paid by children yet to be born.
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David Rosnick, Dean Baker