I guess this is where the aspect of doing something now before it’s too late for our children’s sake comes in. I agree that I don’t want my children paying for our decisions — but it would be a decision not to do something which I think would end up costing them more. And you’re right that sorting out needs from wants is an important aspect of ensuring that what we do is really beneficial for the future. That’s why I want to know how money is spent. But, sometimes you do need to spend money, and it can’t always wait until the children grow up to make the decision.
If the school system is inadequate, do you wait until the children are grown so that they can fix it for their children? The medical system? Transportation? Telecommunications? Disaster preparedness, etc.?
There is certainly room for discussion about whether these things are in need of repair, and whether it should be the federal government or government at all which steps in to address these issues.
But, again, the issue isn’t necessarily how much we borrowing (unless the repayments and inflation will cripple us before we get the benefit of the investment), but on whether we’re spending the money on the right things.
I haven’t seen a generation fault the previous one for wise investment — even if a debt was incurred. Usually, the upcoming generation faults the previous one for wasting money and resources on themselves and not investing it in things of longer lasting value.