<p>Thanks reesez.</p>
<p>
</p>
<p>If ever there’s to be more fiscally conservative than you’d typically consider, it’s now.</p>
<p>IMO, fiscal conservatism should be a function of federal debt and the trend of deficits. The greater the debt, and the greater the upward trend of deficits, the more urgent fiscal conservatism becomes–to avoid future generation’s tax dollars going primarily towards interest instead of initiatives. </p>
<p>The treasury department now receives the third largest chunk of funding after Defense and HHS. That’s ridiculous. The interest we pay on debt could be funding ~30x the current NSF budget–that’s a lot of lost research.</p>
<p>Once the recession passes, we should be temporarily slashing social benefits to the bone, temporarily raising taxes, and maintaining rock bottom interest rates to hopefully offset the stranglehold that’ll have on the economy. </p>
<p>Anything else is simply an implicit tax on future generations to fund our own needs today; their taxes will pay off our interest.</p>
<p>Technically I am that future generation so this argument is self-serving, but I would argue the same thing if I earned a large income today.</p>