January 5, 2018

If the Choice Is Between Ever-Mounting National Debts Or Central-Bank Helicopter Drops….

The EconLog website recently ran a post by Alberto Mingardi, the thrust of which is that Western democracies are inevitably prone to mounting national debts, as voting populations want government services or handouts, but do not want to pay for them. It is hard to dispute Mingardi, and indeed the United States is diligently building its national debt, funding both welfare and warfare states by borrowing. Notably, the recent Trump tax cuts are not matched by spending cuts. The phrase “Deficits Don’t Matter” is evidently stitched on the Stars-and-Stripes, judging by the fervent salutes. Curiously, a result of the spate… Read More