What Will We Leave To Our Children?

If a business cut back on research and development; failed to maintain its plant and equipment, and did not invest in employee development,  we would be concerned about its future.  It certainly would not be leaving a legacy to future generations.  We would also be concerned about the environment that we would be leaving to future generations if businesses continued to emit more pollutants into the environment than can be safely absorbed.  Paul Krugman argues that our nation may be making the same mistake.  The deficit scolds have had the same impact on future generations by forcing cutbacks on government investment in the future.  Ironically, they claim that it is necessary to curtail investments in the future in order to leave a better economy to our children.  Most of the scolds care little about the legacy that we will leave to our children.  They are more concerned about cutting taxes and government spending so that they can spend more today.