I note that in the above, everything the government does is consensual, except the taxing in Period 10. Looking at this sequence of events, Joe Sixpack says, "Wow! In Period 1 Al got 10 apples for free. Then the generations kicked the can down the road through the decades, until 5 generations later, the piper finally had to be paid. Shocking how irresponsible that all was. That poor 5th generation really got burdened with a massive government debt."
Paul Krugman says, "Joe you idiot! In Period 10, it's a wash, since Kelly and John owed the debt to themselves."
Landsburg, good heavens man, surely you don't want to say that Krugman is basically right?