The I•P accepts that the next 2 years will see relative disregard for the U.S. deficits. Obama will need to spend mightily to get the U.S. economy out of the current crisis.
But let's be clear: every dollar we spend is not our own.
Each dollar will need to be paid back, with interest, by today's college students, high-school students, grade-schoolers, kindergarten kids and yes, those people who haven't even been born yet. And their children.
And their children.
That's who this money belongs to. That's who will pay for our current crisis, caused by the mistakes and failures of those present today.
We are witnessing the largest transfer of wealth in history, from one generation to another. From the future to the present.
The old leadership got it wrong.
The new leadership better get it right.
Future generations are literally depending on it.
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