Washington Post (September 6)
2016/ 09/ 07 by jd in Global News
“Federal debt incurred to fund current consumption…is in effect a tax on future generations….But debt incurred to finance infrastructure modernization and repair is different. It creates… a long-term asset (the highway, railroad, energy transmission grid or airport such spending buys). It’s perfectly fair to spread the financing costs of those assets across the generations of taxpayers who will enjoy their use.”
Tags: Asset, Current consumption, Fair, Federal debt, Financing costs, Future generations, Infrastructure, Tax
