Easy Money, Hard Truths (A must read)

Are you worried that we are passing our debt on to future generations? Well, you need not worry.

Before this recession it appeared that absent action, the government’s long-term commitments would become a problem in a few decades. I believe the government response to the recession has created budgetary stress sufficient to bring about the crisis much sooner. Our generation — not our grandchildren’s — will have to deal with the consequences.

Read the rest here. This is an outstanding piece by the highly respected David Einhorn and I recommend it strongly.

Hat tip T-19