What ‘Debt Ceiling’ Gives The Spendors

What the national debt ceiling actually does is enable any administration to get all the political benefits of runaway spending for the benefit of their favorite constituencies, and then invite the opposition party to share the blame, either by raising the debt ceiling or by voting for unpopular cuts in spending or hiking taxes.

Don’t take my word for it.  That was written by Thomas Sowell.

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About William Holland

Systematic Theologian/International Relations
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