Government spending is excessively harmful precisely because it’s the central planning of precious goods, services and labor by the federal government. Conservatives and libertarians at one time nodded along to the latter, while progressives and liberals rolled their eyes. Not so much today. As this write-up’s title indicates, they’ve become one.
See Patricia Cohen at the New York Times. In a recent front-page article at the newspaper, Cohen lamented soaring national debt in rich nations since “it means countries must make interest payments with money that otherwise could have paid for health care, roads, public housing, technological advances or education.”
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