The problems relate to how Americans view the role of government in their lives and to the belief that government money can always fix problems.
Boston University economist Laurence Kotlikoff, an expert on the national debt, says, "The true size of our fiscal problem is $222 trillion...20 times bigger than the official debt." He says, "The government has gone out of its way to run up a Ponzi scheme and keep evidence of that off the books by using language to make it appear that we have a small debt."
The government has spent all of its income and much more, so we should think of new spending programs as simply more debt being piled onto our children and grandchildren.
Government debt is a government claim on future incomes.
In the socialist dream world, there will never be a day of reckoning for government debt.
Many present-day Americans expect the government to take care of them.
"Helicopter money" dropped by the government will not fix this problem.
https://www.americanthinker.com/articles/2020/03/coronavirus_is_not_even_close_to_americas_biggest_problem.html
Boston University economist Laurence Kotlikoff, an expert on the national debt, says, "The true size of our fiscal problem is $222 trillion...20 times bigger than the official debt." He says, "The government has gone out of its way to run up a Ponzi scheme and keep evidence of that off the books by using language to make it appear that we have a small debt."
The government has spent all of its income and much more, so we should think of new spending programs as simply more debt being piled onto our children and grandchildren.
Government debt is a government claim on future incomes.
In the socialist dream world, there will never be a day of reckoning for government debt.
Many present-day Americans expect the government to take care of them.
"Helicopter money" dropped by the government will not fix this problem.
https://www.americanthinker.com/articles/2020/03/coronavirus_is_not_even_close_to_americas_biggest_problem.html
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