When the gov't spends in deficit, that means I'm taxed more

• When the government spends in deficit, that means I am being taxed more: I’ve heard this one numerous times and it’s very obviously false–the fact that you are not being taxed to cover the spending is WHY it’s a deficit! If taxes were rising along with the spending, then it would be a balanced budget. Does it mean taxes may rise in the future? It shouldn’t. In fact, if the deficit does what it’s supposed to, then the economy grows and the deficit automatically shrinks (as tax revenues rise and government spending for unemployment and income assistance falls).

www.forbes.com/sites/johntharvey/2011/07/02/learn-to-love-the-deficit/#281bd3f6723d