Why the Debt Doubles
“Present debt is no more than future taxes,” says Mario Villareal, professor of economics at George Mason University’s Institute for Humane Studies. That’s his prelude to the daunting question: Why does the debt double for every president and will eventually double twice in a single term?
“A very sophisticated tool we economists use to think about how individuals make choices is very powerful: common sense,” Villareal says. “Politicians respond to incentives and when facing choices will do what is likely to advance their own objectives.” Villareal explains further in this edition of Learn Liberty.
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