[Pen-l] Vulnerable logic in Dean Baker's argument?

[Bill Lear <rael@xxxxxxxxxx>]

Dean Baker writes the following, in his "The Bankrupt Debate Over
Bankrupting Our Children" (2009-5-11 from Truthout):

  At some point, everyone alive today will be dead. At that point the
  government bonds that constitute the debt will be owned by our
  children or grandchildren. In other words, our children and
  grandchildren will be paying the interest burden to themselves. If
  future generations both receive and pay the interest on the debt then
  how can it be on net a burden to them?

Isn't it true that "our children and grandchildren" will be paying the
interest burden mostly to wealthy bondholders (the "Wall Street crew"
that Baker decries) since bond ownership is presumably quite unequally
distributed?


Bill
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