Text 2 　　The economic debate in the U.S. concerning the fiscal stimulus package has centered on the question of “bang for the buck,” that is, whether tax cuts or spending increases would produce more jobs. This perspective is very misleading, however: the choice of spending versus taxes should turn first and foremost on the purposes of government. It’s silly to debate whether investing in a $100-million bridge creates more jobs than a $100-million tax cut if we really need the bridge! The American Society of Civil Engineers has long documented the crumbling state of U.S. infrastructure and the urgent need for more than $2.2 trillion of investments for our wellbeing and competitiveness. 　　Government spending and taxation affect the distribution of income demographically and temporally. America ranks 22nd out of 23 high-income countries in public social outlays as a percentage of national income for health, pensions, income support, and other social services. Our political discourse(对话) tends to focus on the middle class and neglect the poor, while our actual tax and spending policies are often directed to the benefit of the wealthy. As a result, the U.S. has the highest poverty rates, greatest income inequality, highest per-capita prison population and worst health conditions of all high-income countries. 　　The timing of tax cuts and spending increases also affects the wellbeing of today’s generation versus future generations. The U.S. has a chronic fiscal deficit because federal taxation is enough to cover only five types of federal programs: retirement and disability, medical care, veterans’ programs, defense and homeland security, and interest on the public debt. All other federal outlays are in effect funded by borrowing. The chronic deficit problem, now at least 5 percent of GNP, will tend to get much worse with the aging of the population and the rising costs of health care, until we finally choose to tax ourselves sufficiently to pay for the government we need and want. 　　Temporary deficits can boost the economy at a time of recession, though temporary income tax cuts or rebates tend to be saved rather than spent. Prolonged deficit spending, however, would impose future burdens. The most obvious will be the need to service the public debts owed to China and other holders of treasury bills: the U.S. is on a path to multiply its already massive international debts. Less obviously, the huge budget deficits will crowd out some private investment spending and exports as the economy recovers. Moreover, the higher taxes needed to cover the service on that debt will not just squeeze consumption but may also distort the economy through disincentives on saving, work or other activities.