By Jane L. Johnson
There is plenty of commentary today about continuing large annual US federal budget deficits and the large federal debt that keeps mounting as a result of these relentless deficits.
pull down to refresh
By Jane L. Johnson
There is plenty of commentary today about continuing large annual US federal budget deficits and the large federal debt that keeps mounting as a result of these relentless deficits.
^THIS
Every year in my Public Econ class I do a pre-quiz where I ask students to guess what the Federal Government spends the most money on: Defense, Social Security & Medicare, Education, or Interest on Debt.
Students usually guess Defense and are surprised to learn that defense spending is only a relatively small fraction of the federal budget.
This is also why substantial cuts are so politically difficult. Even if the bureaucracies are gutted with a machete, Ron Swanson style, most of the spending will still be in place. It would take Congressional reform to entitlements to appreciably reduce spending.
Extra commentary: #768034
@Undisciplined, I have been trying to make links to a previous post before, without success.
How do you make them?
It should happen automatically, when you paste the URL.
Thank you, I’ll give it a try, another time.
lol @Rothbardian_fanatic posted the same after you!
We're in a race.
I'll cheer for you!