Author is implicitly agreeing with this democrat tripe: "...deficit-financed 2017 tax cuts." It's not the government's money, it's the taxpayers'. If a tax cut actually resulting in less government revenue, then the government spending should be decreased, to balance the congressional budget. But tax cuts increase government revenue! Wasn't the latest report that 2018 was a record US government tax collection year? I'm sure the congressional budget will reflect that in decreased spending and taxes, right???? Hah! Let alone is there no balanced budget, there is no budget period. And this government partial shut-down is over a continuing resolution to increase the US borrowing limit, so that the deficit spending can continue. Right?
I know that all governments fear being controlled by others, so none wants to have its currency printed by someone else. But being able simply to print more money, when more spending is wanted, is just taking on more government debt, and deflating the value of the money already in circulation. So easy to understand. And I'm not even an economist. Don't even play one on TV. And didn't stay in a Holiday Inn last night.
(My first paragraph above is a quote from the posted article. I still can’t figure out how to make the forum automatically identify a quote. Guess I’ll have to use italics or the words “quote” in front of it, etc. Sorry if anyone was confused, or didn’t read the full except of the posted article.)
People who retired a generation ago retired with savings worth x. Time moved on, government printed money. Now that generational savings is worth MUCH less. Thank you for making the elderly dirt poor, government.
“...deliver benefits today and costs tomorrow, including the deficit-financed 2017 tax cuts...”
Except that the 2017 tax cuts produced increased tax-based income to the government, not an increased deficit, proof that the problem is spending.