Responsible individuals would find it inappropriate to run up huge debts during their lifetime and leave the obligation for paying them to their children. This is a liability not of their making and would reduce their standard of living. Fortunately, children are protected from us running up huge debts on our credit cards and making them pay for it by law. The debt can only be collected from the assets of estates. This is good law. Unfortunately, our children and grandchildren aren't offered the same protections from governments.
An example of this is the Legislature failing to modify or fully fund pension plans for state employees, thus shifting this cost to our children. We're selfishly rationalizing, or in total denial of, the burden we're leaving to future generations. The Legislature should fully fund the present value of the liabilities they're obligating our future citizens to pay, thus allowing citizens to see what the real costs of these benefits are; or change the pension benefits offered to those more closely aligned to the private sector plans, such as 401(k) plans.
Failure to do one or the other makes us, through our state representatives, not only irresponsible but immoral as we continue to take advantage of our future citizens, many not yet born, who can't speak to protect their interests. Gov. Mary Fallin should be supported in her effort to address this problem.
Steve Curry, Oklahoma City
If you owe under $729k you may qualify for 3.05% APR Govt Refi Plans.