>>And it is precisely this type of thinking that is going to leave your children a legacy of debt with little or no chance to enjoy the same high standard of living as you did for most of your life. Governments, like individuals, must learn to live within their means. Borrowing 40 cents out of every dollar spent is a bad idea, whether it is governments or individuals doing the spending.

Part of the trouble is that offshored jobs = loss of the tax that used to be paid by the local worker, only part of which comes back as boosted dividends and profits... that are then taxed at a lower rate. So you've converted whole layers of taxpayers into beneficiaries paid for out of a shrinking taxation pool. Ripples spread from there as the local shops, restaurants and bars lose patronage and start to close, creating more unemployment. It really is a strange feeling to visit once thriving stripmalls with "for lease" signs everywhere, but that's the cost of austerity. Add to that the systematically underfunded healthcare expectations of your generation ($47T so far) and I agree there's a huge problem being dumped on future citizens. If you want to find fault, the old "who benefited" question is quite useful here.