Some years ago, I read on a birthday card that you know you are old when you spend more time thinking about money than sex. If so, we economists must age prematurely.
It is hard not be worried about the economy. No, I am not talking about the subprime meltdown and the possible recession that looms on the horizon.
My parents’ recession is not my problem, and our next recession will not concern our children when they reach adulthood.
What worry me are the problems that we will bequeath to our children ... an issue that no presidential candidate has taken up in earnest.
Democratic candidates like to talk about expanding the social safety net with universal health insurance. But they blithely ignore the fact that the safety net we already have was bought on credit and that the bill is almost due.
