Tax cuts and young adults

Published: Wednesday, 09/15/2004 12:00 am EDT

A key factor in this inauspicious budget outlook is the effect of extending the 2001 and 2003 tax cuts. Young adults should be demanding that policy-makers explain precisely how the tax cuts will be financed, since continuing to borrow to pay for them will just shift the costs to the future -- when today's young adults will bear a significant share of the burden. The less older generations pay toward the government's bills, the more younger generations will have to pay, and vice versa.

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