On the Need to Grow Up (About the Budget Deficit)
I’ve had a couple columns in the Christian Science Monitor over the past month, both making the basic point that the fiscal woes we’re in have a lot to do with our failure to behave like grown-ups when it comes to recognizing and admitting our own roles in the problem and doing something to be part of the solution even when it isn’t all our own fault.
- This week’s column suggests kindergartners could do a better job at cutting the deficit. The CSM editors added that flourish/slight exaggeration, but I actually think older grade schoolers could do a better job–particularly those fortunate enough to be exposed to some economic concepts such as “opportunity cost” and “budget constraints” (the notion of scarce resources) in their social studies curriculum. And of course, older grade schoolers have also mastered basic addition.
- My prior print-edition CSM column came out about a month ago and elaborated on a point I first made up on the fly at an Urban Institute event (mentioned on my blog here): the federal government’s “spending spree” is really like a shopping mall phenomenon in “intergenerational reverse”–that is, we expect our kids and grandkids to put all our own benefit and tax cut goodies on their “credit card,” and we give them nothing of decent value in return. Not fair.
Both point to our need to “grow up” about the budget deficit. Help! Where’s the “fiscal therapy” we need to snap out of this deficit dysfunction?!!
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