Bonus Quotation of the Day…

by Don Boudreaux on February 22, 2023

in Budget Issues, Debt and Deficits, Other People's Money

… is from page 217 of 1992 Nobel-laureate Gary Becker’s and Guity Nashat Becker’s 1997 book, The Economics of Life:

Deficits are not the fault of incompetent politicians who must be moved onto the right path, but of successful efforts by special-interest groups to raise their handouts from government without paying higher taxes.

DBx: Yep.

It’s important to note that among the special-interest groups that seek to increase their government largess at the expense of the future citizens-taxpayers who will pay the price for today’s deficit-financed spending are government officials themselves. Greedy for office, politicians of all stripes promise to dispense benefits to voters today – benefits to be paid for by many people not yet born.

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