On Monday, May 18, 2009 at 16:47:32 (+0200) Robert Scott Gassler writes: >Yes, which is why it is important what the government is doing with the >money it has borrowed. If it provides tax cuts to those same wealthy >bondholders, that is one thing. If it provides schools, highways, etc., for >all, that is quite another.
Yes, it's important, but irrelevant as a rebuttal of my critique of Baker's claim. Let's say that the government does what we all agree are wonderful things with the borrowed money. That doesn't change the fact that Baker's claim that "our children and grandchildren will be paying the interest burden to themselves" is very misleading. Obviously, those who Baker is criticizing don't care about this: they are just fine having wealthy bondholders lend money to the government instead of being taxed. Bill _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
