Road To A Great Stagnant Society
Are you cutting down on your spending? Many Americans are being forced to do just that — in large part because the government will not curb its excesses. Indeed, the federal government seems willing and eager to control virtually everything in the land except inflation and its spending.
Of course, in a real sense, the government doesn’t have its own money; it has what it can commandeer from you and me and the private sector in general. Those resources are acquired in multiple ways — including through taxation, inflation, and borrowing. There’s little doubt that Washington finds it much easier and useful to trim the taxpayers than its budget. Then, seeking to maximize political power, our leaders and government officials redistribute the filched wealth.
In an earlier feature in this magazine (“Bidenflation Rages,” February 14) we focused on inflation; in this piece, the concentration is on spending.
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