bonus Ebsco - been out of control with no consideration for...

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Callie Gagnard April 28, 2010 In the article “U.S. Fiscal Policy Does Not Cheat Future Generations” the author, Neil Buchanan, explains and supports his reasoning for believing that the current generation is not harming the future generation. The accusations of some of the recent economists are concluding that the current generation is stealing from future generation by running fiscal deficits. Buchanan states that this is a misleading and damaging conclusion. He argues that spending by the government helps the existing economy along with the upcoming economy. The dispute of this selfish economy came about when Barack Obama passed the stimulus plan. On the republic side of the disagreement, Senator Jeff Sessions argued that, “every penny of the plan will be borrowed, and every penny will have to be repaid, with interest, by future generations.” On the democratic side, Representative Mike Thompson implied that, “we need to be cognizant of how we spend. We have a situation where for the last eight years spending has
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Unformatted text preview: been out of control, with no consideration for what it’s going to do to future generations.” Buchanan does support the fact that the future economy needs to be taken into consideration. However, he believes that the present crisis is so severe that we have no other choice but to expand deficit spending. In conclusion of this political debate, Buchanan clearly answers the question of whether or not the current economy should be concerned about the effects of deficit spending on the economic interests of future generation. His answer is no. He contemplates that by fighting the recession it will encourage more private spending. Buchanan also supports the fact that if we fight the recession by investing in things such as education, research, and other forms of human and physical capital, in the end, the future generation will still be wealthier....
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bonus Ebsco - been out of control with no consideration for...

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