Post by the Scribe on Mar 10, 2020 10:25:29 GMT
• Cutting the deficit by reducing spending puts money in my pocket: This ignores the fact that a) you weren’t being taxed to finance the deficit in the first place (or it wouldn’t have been a deficit) and b) government spending is money in someone’s pocket. Thus, cutting the deficit by reducing spending removes money. This is true even if you are in the private sector, since those government employees bought groceries, paid rent, went to the mall, etc., etc. They earned income for you by buying what you sell.
www.forbes.com/sites/johntharvey/2011/07/02/learn-to-love-the-deficit/#281bd3f6723d
www.forbes.com/sites/johntharvey/2011/07/02/learn-to-love-the-deficit/#281bd3f6723d