The REAL Problem with Deficits
Again from the NYT — THIS ARTICLE actually takes a look at the real problem with governmental deficits. Deficits, by definition, are expenses greater than receipts. So we have TWO important factors to look at: expenses and receipts.
Increasing tax revenue addresses receipts. Cutting government services addresses expenses. Closing any deficit means addressing theses items, however, a rift seems to exist in people’s internal bias towards one of these solutions.
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