Thanks for the reply. I suppose, eventually, the math catches up to the politicians, as it did in 1979 with lofty interest rates and the associated economic realities.
I read with interest your comment about the “public decides the government can do a ‘better job’” However, I just realized that when I have asked people about this, they have never thought of the connection between having the govt deal with the poor, suffering soul and their own tax payments. And in practice, there really isn’t much connection in their experience. If something appears like a tear-jerking need, they immediately think the govt should fill it. It is an unconscious reaction on their part.
Perhaps the math doesn’t matter. Maybe the govt can spend to infinity. However, if that is true, then why would there be a need for a tax increase? Why not simply erase all taxes for everyone? If there is no relationship between spending and creating a debt problem, then why not simply spend more? No one seems to see any consequences so why worry? Be happy and let the spending flourish. In the meantime, I can shift my attention to the issues of individual freedom and human rights. More realistically, we need a quantitative relationship between govt spending, taxes,and economic growth.
It may be a generational thing, but I always suspect the ‘public education’ of more than 5 decades.
Priority for a functioning graduate is all upside down. The Young always assume that ‘stuff’ will be there.
Until math catches up with reality, that is........