Government Debt and the Next Generation

What the national debt means for the people who will inherit it

The Debt

The US national debt at approximately 35 trillion dollars and rising at approximately 1.5 to 2 trillion dollars annually represents the specific obligation that the current generation of government decision-makers is imposing on the future generation of taxpayers who will service the debt. The intergenerational equity argument that the libertarian tradition makes about government debt is the specific accountability journalism of who pays for the spending that the debt finances.

The Arithmetic

The arithmetic: 35 trillion dollars divided by approximately 260 million adult Americans is approximately 135,000 dollars per adult American in existing federal debt. The annual deficit of approximately 1.5 to 2 trillion dollars is approximately 5,800 to 7,700 dollars per adult American in additional debt per year. The arithmetic is the accountability journalism that the abstract budget debate obscures.

Surf Revolt Coverage

Surf Revolt covers government debt and generational equity because the accountability journalism of fiscal policy requires the specific arithmetic that makes the abstract debt numbers concrete for the taxpayers whose future tax obligations the debt represents.

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