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| artring, kids and money, prosecutors, milf hunter jenna , wisconsin, fil am, askthe therapist, kob, seekers , youngfeminist, seth rogen, gang related behavior, volunteer, job, milf hunter taylor , childcare, amateur allure , made in japan, roman, promise, auckland news, 15 year-oldgirl stabs sex-hungry boyfriend to death, | Some have also made a philosophical argument that even if there is an intergenerational wealth transfer, it is justifiable, because our children and grandchildren will almost certainly be youth group wealthier than youth group us, and (oversimplified) that they "wouldn't mind" lending us some money today, just as we leave money for them in our wills. This doesn't seem to be particularly persuasive to me, youth group but it is one argument that is occasionally made to justify even deficits that fund current consumption. As for a balanced budget amendment to the Constitution, the idea seems to be an idea that has disappeared as a political matter, nonethless I think that the intellectual argument is interesting. |
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| And much of the deficit spending by the government today seems unrelated to true investment ends as well. Two other arguments have also been made that I won't really discuss much, as they are wisconsin more political and philosophical arguments, rather than economic arguments. If the problem with deficits, roughly stated, is excessive government spending that funds current consumption wisconsin (rather than investment), some have argued that deficits have the practical utility of constraining the overall wisconsin size of the spending budget. This is Milton Friedman's famous justification for Reagan's budgets. This assumes, however, that there is some limit on public tolerance for budget deficits--it is no longer clear that this is the case. I had a long talk with James Buchanan a few weeks ago, and he strongly believes that this is the case, and that today, spending would be lower if we forced it to be financed by taxes rather than permitting deficits. |
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