... Second, debt financing of wars shifts part of the cost of wars to fu-ture generations, who will have to pay off the government debt. This is argu-ably a fair distribution of the burden, for future ... 555stock, p. 556 financial intermediaries, p. 556 mutual fund, p. 558national saving (saving), p. 562 private saving, p. 562 public saving, p. 562 budget surplus, p. 562 budget deficit, p. 562 market ... debate centered on the effects of these deficits both on the al-location of the economy’s scarce resources and on long-term economic growth.Loanable Funds(in billions of dollars)0InterestRate5%6%$1,200...