5 ms·
The only bummer is that a lot of this amounts to expecting the young to pay for this the rest of their lives. Politicians keep kicking the can down the road an
by mikem170 6y ago
The only bummer is that a lot of this amounts to expecting the young to pay for this the rest of their lives.
Politicians keep kicking the can down the road and it is not fair to future generations. Nobody seems to be talking about that.
- jacquesm 6y agoThis was already the case long before COVID, different problem, requiring an entirely different solution. Look to fix political systems in order to address these issues.
- chimprich 6y agoDepends. If you give someone a furlough handout, they can keep buying food, paying rent, paying for services (keeping other people's jobs viable, basically). If you let someone go bankrupt, lose their job, house, etc. they are suddenly not contributing to the economy and other people start losing their jobs. And that person then needs welfare payments anyway to avoid starving to death etc. In the former case the government might borrow to pay for that, but if you borrow money, you have to borrow it off someone. Someone has to buy those bonds; e.g. pension funds. "The young" will be not will be worse off overall; it has to balance out overall. Some of them will be creditors. The balance won't be evenly distributed, but future governments can decide by how much with tax strategies. Compare to climate change, a problem we are very definitely kicking down the road to future generations.