Government
Jan. 8, 2010
The 'Intergenerational Conflict' Cuts Both Ways
Gideon Kanner of Loyola Law School says the view that a growing public deficit transfers wealth from the young people to the older generation is not so simple.
By Gideon Kanner
Conventional wisdom has it that the ongoing explosion in public deficit spending amounts to an intergenerational wealth transfer from young people who will have to pay off the growing public debt, to the old folks who are enjoying costly public services like Social Security, Medicare, and assorted private breaks and government subsidies. Even as grandpa enjoys life on the dole, goes the argument, his kids and grandkids will have to pay higher taxes, and s...For only $95 a month (the price of 2 article purchases)
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