Intergenerational equity is the maxim that today's taxpayers should pay for today's services, so (1) we don't pay for current operations with long-term bonds, (2) debt repayments such as school building bonds and highway bonds are aligned chronologically with the benefits derived from the users, and (3) pension funds and other deferred benefits ... are actuarially funded rather than pay-as-you-go. In short, one generation should not burden the next generation for the public services it receives today.  MORE >>