Debt Ceiling

Does anyone not know about the drama in Washington concerning the level of national debt? Is there anything I can add to the gushing torrents of punditry?

Perhaps just this: if you borrow money, your children are not responsible for your debt. If the government borrows money, your children are. Borrowing may make sense, but most people would consider it wrong to saddle future generations with debt unless there were corresponding benefits. Future generations can’t decide yet – we have to decide in their behalf.

Some of us believe that we are racking up debt for our children without providing benefit. This is stealing from our children. Others believe that without borrowing more we are denying our children the proper foundation for a good society. That’s cheating our children.

So, one side thinks the other is stealing from our children, the other side thinks we are cheating our children.

It’s not difficult to see why compromise is so difficult. Who wants to agree to rob or cheat our children in the name of compromise?

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