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What's wrong with living within our means? Can we not build a road without taking from people who can't yet have a say in it? Most people accept that we don't
by jakeogh 11y ago
What's wrong with living within our means? Can we not build a road without taking from people who can't yet have a say in it?
Most people accept that we don't owe the debts of our ancestors, but for some reason, the most corrupt organizations somehow get a pass. A baby today in the US is born owing north of $40k to banks she has never done business with. If she does not like it, that money will be taken with the threat of force.
- the_why_of_y 11y agoNot only does the newborn owe $54k share of public debt on average, the baby also owns (directly or indirectly) $54k worth of government bonds on average.
- jacquesm 11y agoThe debt is public, the bonds are held in a non-public fashion so there is a definite asymmetry there.