Friday, February 8, 2008

Why do governments like borrowing money?

When we borrow money for school or a home, the loan dies with us. But when we borrow money as a nation, the loan goes on for generations. The debt just gets bitter. It isn't fair to the next generation to decide how we spend their money. But that's what we're doing by borrowing. That's what savings bonds are.

It's future inflation. It's future national problems. It's just putting things off for the next generation to fix.

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