Debt

In your article about Generation X borrowing (Dec. 12), one gets the impression that credit card debt is “bad” and savings are “good.” Actually, people in their 20s are precisely the group that should be borrowing now. Generation X’s borrowing and working to pay it off allows us baby boomers to retire and earn interest on our money.

The real issue is the potentially excessive cost of credit. The thoughtful parent will consider circumventing the middleman, lending directly to his children, splitting the difference in rates for loans and savings, thus efficiently transferring the responsibility for work from one generation to another!

IVAR SCHOENMEYR

San Juan Capistrano