Jewish World Review Feb. 15, 2013/ 5 Adar, 5773
Why should banks risk capital on innovative new companies with brilliant ideas when Washington dutifully repays interest and principle on those boring old savings bonds --- albeit with freshly printed cash?
By Deroy Murdock
Fiscal conservatives unwittingly sabotage themselves by warning that the $16.5 trillion national debt will impoverish America's children and deliver unborn grandkids directly into Chinese slavery. While these dire predictions may come true, calling America's massive indebtedness a challenge for future generations triggers relaxation about an immediate priority: curtailing federal spending and borrowing. By defending "the children," budget hawks let big spenders invoke Scarlett O'Hara to justify their profligacy, at least until the tykes mature. "Cut the budget later," spendthrifts propose. "Tomorrow is another day."
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Deroy Murdock is a columnist with Scripps Howard News Service and a media fellow with the Hoover Institution on War, Revolution and Peace at Stanford University.
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