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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (542507)1/9/2010 8:44:53 PM
From: i-node  Read Replies (1) | Respond to of 1573558
 
Yes even larger deficits (as a percentage of GDP) in WWII where handled ok after the war was over, but "handled ok" doesn't mean zero cost or problems, and also the main reason they could be handled ok is that all the spending which pushed the high deficits, was for a war, a temporary thing, not for the entitlement programs that are taking control of the budget in modern times, and that theoretically can last for a very very long indefinite amount of time.

Some people have made the case, as well, that the WWII spending was responsible in significant part for the great inflation of the 70s -- 25 years later. The idea that an economic policy starts and stops on Inauguration Day seems pretty ridiculous to me.



To: TimF who wrote (542507)1/10/2010 8:09:50 AM
From: Taro1 Recommendation  Respond to of 1573558
 
"The true burden of government is not the tax level but the spending level.

Taxation is just one way for the government to get money.

The other ways­ borrowing and inflation­ are also burdens on the people.

The best way to lighten the tax burden is to lessen the spending burden.

If government spends less, it takes less.

And if it takes less, the tax system will weigh less heavily on us all."

(Milton Friedman)


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