Probligo: That is a key problem. However, deficit spending (while not something I like) is less of a problem in and off itself than total spending.

It doesn’t matter so much how you finance your spending (deficits or taxes) as it does that you don’t spend more than your means. Obviously, deficit spending makes it attractive to spend more than you can afford too, but the core problem is spending too much.

If you want to take risks with you life you can.

you can take out a loan, get a college degree.

I have a hard time why the goverment has to take on the risk.

Why should be goverment act as an insurance policy for every single possible contingency in my life.

Heh, try telling that to a politician.

I can recall a very well known left wing politician in Auckland (he has just been appointed Ambassador to London after some 30 years in Parliament) telling an election rally that “it is not the concern of the taxpayer where the money is coming from.”

I suggest that for an example of the politician’s idea of budgetting, look to the internal fiscal deficit of the US.

If I was gauranteed my present income I would certainly quit my job and probably decide to be a ‘professional blogger’.

Doesn’t mean that my blogging contributions would produce as much benefit to society as what I am currently getting, but hey, I get the same anyway right? No risk.

Further, as I pointed out, the money for this sort of thing has to come from somewhere. If the cost of my entitlements comes from a Venture Capitilist who otherwise would have been able to fund the ‘next big thing’ then the I will be hard pressed, no matter how willing I am to take risks, to equal that contribution.