Hey, China, spare a dollar?
The New York Times has a fun – if bleak – interactive budget projection graphic. If that weren’t reason enough to follow the link, it’s worth thinking about the intergenerational obligations that most critics say are at stake in government deficits.
They worry about whether the America we leave behind will be a fully owned subsidiary of China (to put it hyperbolically). But as you can see here, we spend a lot of money caring for the older generation, the one that worked hard but is living longer.
In an ideal world, we shouldn’t be forced to choose between the previous generation and the next. But right now it looks as if we are. What to do?