Letter: National debt

April 27, 2014 

I read the article about children being held responsible for debts incurred under a parent's Social Security numbers. The outrage over these collections is interesting because this shouldn't be surprising. After all, the government's financial policies are built on this premise.

This is a great insight into the hypocrisy of U.S. politics. People will cry about the injustice of holding children responsible for the debts of their parents; but, as soon as you call this behavior the "national debt," then it's perfectly fine to deficit-spend money for your benefit and pass the bill on to unborn generations.

For example, Social Security has unfunded liabilities of over $13 trillion. Retirees expected unborn generations (when the Social Security program was imposed) to bear the financial burden of their political activity when they voted to increase their SS benefits without increasing their payments.

But one of these behaviors is considered unacceptable while the other is considered completely natural. A tiny bit of consistency would be nice here.

This Social Security collection program of holding children responsible for the debt of their parents only illustrates the illegitimacy of the national debt, where the unborn must pay off debts incurred by the dead.


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