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Deficit Delusion
Why Everything Left, Right, and Supply-Side Tell You About the National Debt Is Wrong
John Tamny(0)
About
Rising debt is the surest sign of rising prosperity. It's not what we're used to hearing, but it's true nonetheless.
The Deficit Delusion makes a basic, but routinely ignored case that governments are no different from individuals and corporations on the matter of debt. Precisely because the ability of governments to borrow is rooted in the prosperity of the individuals and corporations that governments are legally empowered to tax. Therefore, we are thinking of the deficit and debt in wholly backward fashion.
The Deficit Delusion makes a basic, but routinely ignored case that governments are no different from individuals and corporations on the matter of debt. Precisely because the ability of governments to borrow is rooted in the prosperity of the individuals and corporations that governments are legally empowered to tax. Therefore, we are thinking of the deficit and debt in wholly backward fashion.