Russell and Duenes

You Run Out of Other People’s Money

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thatcherThe reason you “run out of other people’s money,” as Margaret Thatcher famously quipped, is because, as Mark Steyn less-famously quipped, “you run out of other people.” This week’s The Week magazine has a little blurb entitled: Baby Bust: The Declining U.S. Birthrate. Much could be said about it, and likely I’ll say more, but for now, it’s primary statistic is that “the U.S. birthrate in 2011 was the lowest recorded, with only 63 births per 1,000 women of childbearing age, down from 71 in 1990, and 122 at the height of the postwar ‘baby boom.'”

One implication is that, with our nation currently running up annual trillion-dollar deficits, one has to wonder how many immigrants it will take to keep footing, er, not footing our bills. Our current entitlement programs, contrary to the popular insanity, are not free, and the money needed to keep them going has to come from taxpayers eventually (for we cannot keep printing and borrowing ad infinitum). Just which taxpayers would these be? This is one of the biggest issues facing us, but you wouldn’t have known it from our entire presidential election cycle. For it is rather impolite, shall we say, to raise the issue of demographics. Why, you ask?

More on that after final exams are over.



Written by Michael Duenes

December 10, 2012 at 3:00 pm

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