generational equity

A fair and appropriately balanced distribution of resources and responsibilities between age groups. Where such equity does not exist, for example, younger people might be unfairly burdened with high taxes and future national indebtedness to provide a standard of living for older people that is higher than what they can expect when they become old. Conversely, in a “pay-as-you-go” economy, older people could be required to pay high taxes for the education and infrastructure used by the young without a commensurate assurance that their own economic needs will be met in their older years.