“I don’t want to hear anyone complaining about the deficit unless they immediately begin to list ways of taking things away from old people and making them work harder and longer. Otherwise you aren’t really bothered by the deficit at all.”
Here is the link. As phrased the quotation is overstated and oversimplified, but it is a nice provocative jolt. Of course we could lower the measured government deficit by raising taxes and taking things away from younger people also. That being said, as society ages there is real dissaving (i.e., a kind of deficit), regardless of how the tax system manages cross-demographic flows.
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