Episode 315: Are We Done With Inflation?
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The Government Takes in More Money Every Year
Every year the government takes in more money and you would think, okay, if that's true, then there should be no budget problem. Every time government gets more tax revenue, it turns around and spends it. What we're describing is not a failure of government, it's an understandable consequence because think about what politicians' goals are. Their goal is to get elected by getting you to vote for me. How do I get you tovote for me? I promise you stuff. Or we borrow, we do that, and then you elect me. And yet every year the debt gets bigger too. It's gotten bigger every year since 1952.
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