"As a country we cannot impose huge debt burdens on our children. It is impossible, at least if we are referring to government debt."
The reason is simple:"
at some point we will all be dead. the ownership of our debt will be passed on to our children."
" If we have some huge thousand trillion dollar debt that is owed to our children, then how have we imposed a burden on them? There is a distributional issue"
— Bill Gates’ children may own all the debt —
"but regardless that is within generations, not between generations."
" One can make the point that much of the debt is owned by foreigners, but this is a result of our trade deficit, which is in turn caused by the over-valued dollar "
on this :
ie no really big whoop
