Sunday, September 28, 2008

Our children will thank us

So say the environmentalist lobby. The likes of the Green Party, and indeed the vast numbers who believe that it is critical now to force or subsidise people into a low carbon dioxide future because of the "costs" of climate change. The primary point such doomsday merchants make is how unreasonable it will be to allow "our children" to pay for this.

So have you noticed how willing so many are to use their children's taxes (and grand children's) to bail out the unwise borrowing of so many today? Why not pay the cost now? Why not ensure that the risks of foolishness are born by those who took them? Government borrowing transfers problems to future generations - it may be justified to manage the capital costs of core government spending, such as defence infrastructure, but to bail out banks?

Whose children will thank you because you were prepared to support governments who borrowed off their future taxes due to the mistake of a minority of people offering and taking credit unwisely?

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