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Comment by WalterBright | Hacker News Reader

The current government spending sprees are not your parents' and grandparents' fault.

Depends how old you are. Even the youngest member of the UK cabinet is old enough to be my father, but the real decision makers are old enough to be my grandfather. I don't keep close track of US politicians but as far as I can tell, its even worse there.

Think about who the current generation voted for. When politicians are voted in because of their fiscally irresponsible proposals, who is really to blame?

People are voting themselves money out of the treasury. This is the result.

Except the previous government gave out a lot more money.

Massive tax cuts, votes secured by giving over $40bn to farmers who were negatively impacted by a pointless and thoughtless trade war with China, and most of the COVID aid was given by the previous administration (although they did delay it because the previous President was insisting his name should be on a check that would be physically mailed to everyone).

Tax cuts are not handing out free money.

The projections for social security surpluses going away in 1983 were literally accurate within months.

Not sure what any recent government had to do with that.

Governor Newsom has a $100 billion surplus. But only if he ignores the unfunded pension liability. That surplus is due to federal covid grant money, and the recent stock market bubble.

Newsom has plans to spend every dime, including raining $400 checks onto every Californian with a car.

https://www.wsj.com/articles/gavin-newsoms-re-election-windf...

It's massive irresponsibility. Do you think Newsom will be coming for a bailout next year as that capital gains money dries up and no more Biden Bucks?

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