Monday, March 30, 2009
McCain afraid of leaving debt to "future generations," but he's okay with bequeathing poverty
“We still don’t have the transparency and oversight,” McCain said on “Meet the Press.” He said his biggest concern is that the cost of stemming the financial crisis will worsen annual deficits projected to exceed $1 trillion for many years.
“What I am most worried about is laying the debt on future generations of Americans,” he said.
Following his failed run for the presidency, John McCain--The Maverick--has apparently chosen to go back to his Conservative Republican roots and spout the party line, which includes non-sensical statements about debt to future generations.
I have said this many times: There is nothing wrong with our economy. We have all the resources and capital (both real and human) to produce wealth and prosperity. However, because of a belief system supported by people like John McCain, we choose to allow our wealth producing capacity to sit idle. As a result, the standard of living of Americans, both of the current generation and generations to come, will decline vis-a-vis the rest of the world.
In this case the real legacy we leave to our kids and grandkids is not debt, but poverty.