Deficit destruction distorts view of government
Washington is the longest-running political show, much like Andrew Lloyd Webber’s The Phantom of the Opera on Broadway. The Swamp continually produces sold-out performances, relying on budget deficits to ensure Capitol Hill’s doors stay open. As politicians depend on imbalances, capital markets, and Federal Reserve debt monetization to remain in power and stay relevant, they have distorted the public’s view of government. It is no coincidence that Republicans and Democrats have run federal deficits for much of the last 50 years while expanding the state’s all-you-can-eat menu. Off...