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. “
Read the whole article: http://research.stlouisfed.org/publications/es/article/8856
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