Episode 305: How Did We Get Here?
Words & Numbers
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The Price of Free Stuff
We're going to talk about the price of free stuff. Every generation or so, we get this be in our bonnet about we want free stuff. How do I get elected by spending on what you want? And you'll elect me. The problem is it's got to be paid for. So how do I square that circle if I want to spend more money without taxing you? And the answer is we borrow. We go from this model of unlimited spending now because there are no constitutional constraints to unlimited borrowing.
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