FISCAL policy debates often focus on technocratic questions about how much money the government should spend and when, yet the actual course of events depends not on the experts but on politics. The more that our government runs up unfunded obligations and debt, the more we are setting a trap for ourselves. James M. Buchanan, a Nobel laureate in economics — and my former colleague and now professor emeritus at George Mason University — argued that deficit spending would evolve into a permanent disconnect between spending and revenue, precisely because it brings...
Source: http://www.realclearpolitics.com/2011/03/06/it039s_time_to_face_the_fiscal_illusion_251553.html
Bill Nelson Bill Richardson Bob Casey, Jr Bob Corker Byron Dorgan
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