Friday, July 08, 2011

Even the Fed thinks Keynes is Dead: White House holding Seance!

The Federal Debt: Too Little Revenue or Too Much Spending

by Daniel L. Thornton and Kevin L. Kliesen
in Federal Reserve Bank of St. Louis Economic Synopses, 2011-07-07 2011, No. 20

“The rise in the national debt... is entirely a consequence of the federal government’s increase of expenditures without an offsetting increase in revenues. “

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