Blessed are the young, for they shall inherit the national debt.
About this quote
- What does it mean?
- Hoover suggests young people inherit financial obligations they did not create.
- In plain terms
- Young people get stuck paying for the country's debts.
- What can you take from it?
- Debt passed to future generations burdens the young.
Where it applies
Putting it to work
Questions to consider
- Who benefits from current borrowing?
- How should debt be allocated?
Another view
It simplifies complex fiscal policy into a generational conflict.
More from Herbert Hoover
A good many things go around in the dark besides Santa Claus.
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