[lotsofpulp]

Spending that will not benefit citizens in the future.

[disgruntledphd2]

So benefits i guess? Or pensions? Sounds like you want the government to only spend money on capital projects which is reasonable, but it'll be very difficult to get there from here, given all the benefits/transfers that governments engage in.

[lotsofpulp]

Yes, especially in democracies with flattened and top heavy population histograms, since the young will never be able to outvote the old.

[disgruntledphd2]

Ah ok, I see where you're coming from. Very difficult to achieve this in a democracy though, so probably productivity increases and wealth taxes will be needed to fill this gap.