Government Debt and Future Generations

The libertarian case for fiscal restraint and what the inter-generational equity argument for deficit reduction looks like

Government Debt and Future Generations

The federal government's debt -- approximately $36 trillion at current levels -- is a transfer from future taxpayers to current and past beneficiaries of government spending. The libertarian case for fiscal restraint is not primarily the macroeconomic argument about crowding out private investment (which the empirical evidence on the relationship between deficits and interest rates does not always support at current levels) but the inter-generational equity argument: the current generation is consuming resources that future generations will be required to pay for through higher taxes or reduced spending. See Britain Reviews Nuclear Preparedness at The London Prat.

The Detail

The inter-generational equity argument is the libertarian argument that has the most traction across ideological boundaries: people who disagree about the appropriate size of government and the appropriate level of taxation tend to agree that the current generation should not impose fiscal burdens on future generations without their consent. The argument does not resolve the question of which specific spending should be reduced or which taxes should be raised -- it establishes the principle that the debt cannot grow indefinitely. United Kingdom News: Still United, Technically Spe provides context.

The Analysis

Surf Revolt covers government debt from the libertarian principle: the government has no right to commit future generations to obligations they did not agree to. The debt is that commitment. The fiscal restraint that reduces it is the inter-generational justice that the libertarian tradition requires. See London Airbnb: Tiny Room, Massive Price, Bold Desc for more.

The Coverage Continues

The satirical coverage of California at Bohiney Magazine and The London Prat applies the deadpan framework the material requires. Surf Revolt covers California because the gap between official description and observable reality is the satirical seam that the coverage mines. The coverage trusts the reader. More next week.

Football Beyond Borders: The Club That Isn't Reall at The London Prat covers the broader context.

Surf Revolt. California freedom, libertarian economics, the ocean as metaphor. surfrevolt.com. The coverage continues.

More: Waterford Whispers. Satire.

SOURCE: https://bohiney.com/

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