As I tried to get into at length in the prior post, once you get past all the mumbo jumbo, it seems to me that there is one thing we can know with confidence about deficit spending on stimulus: it will, in part, transfer wealth from future generations to our own. Of course, if you’re reading this, and you’re, say, 24 years old, then that should read as “transfer wealth from you to a bunch of Baby Boomers”.
This makes the incredible support of this age cohort for Obama seem pretty ironic, at least on this issue. You know all those rallies you went to, and how excited you were on election night? It turns out that the most important result of that, so far at least, is that you get work much, much harder over the next 40 years so that the overweight guy in the khaki pants down the hall from you at work who does nothing of much observable value doesn’t have to move to a smaller house or trade in his car.
What’s this we stuff Kimosabe? – Yes you can!