Sold out by IFR

Unfortunately there will only be a few choices and Teddy Roosevelt is not
running this year. A major problem is that the candidates in the election
had to win the primaries. It is difficult to win the Democratic primary
without being a big government, tax and spend, bleeding heart. It is
difficult to win the Republican primary without being a big government,
borrow and spend, friend of big polluting business and the religious right.
Looks like, no matter who wins, we will have a big government with Santa
Claus at its head. Of course the real Santa Clause brought presents to
everybody and government Santa Clauses favor their constituencies.
Basically each generation is trying to steal from the next. The retired try
to steal from the working by demanding medical and retirement benefits
vastly greater than any taxes that they paid to fund them. The working in
turn try to steal from future generations by running a deficit in good times
and bad. The future generations have had nobody since TR to advance their
cause.

Mike
MU-2



The concept of future generations being penalized as a result of a
federal government deficit has always appeared a bit one-sided to me.

Future generations get the benefits of costs incurred by previous
generations - including tangible benefits in the form of roads built,
national parks, functional government institutions created to help
maintain a stable society, as well as considerable intangible benefits
such as freedom and the benefits of wars won in the past (whose costs
were undeniable and borne by previous generations). If future
generations get the benefits of the hard work of previous generations
(in the form of a better standard of living and more perfect society),
should they not absorb at least part of the cost?

It is beyond me how to equitably allocate the costs among generations
(i.e. - determine what level of deficit a future generation should be
required to assume), but it does seem fair that future generations
should pay at least some of the cost of instititions and assets built
for their benefit. John.