The U.S. has a long tradition of favoring old people over kids. A new paper investigates why.
in a top economic journal, by Harvard economists Nathaniel Hendren and Ben Sprung-Keyser, analyzed the bang-per-buck of government spending programs. They found that social spending on kids stands out as having far greater returns for society over the long run than spending on adults.
Another factor that may be behind the discrepancy is that while children may be a sympathetic group, government spending, generally speaking, doesn't go directly to them. It goes to their parents — and helping out parents sparks an age-old debate about fairness, work and individual responsibility that doesn't get opened up in the same way when giving money to the elderly.
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